The price of the dollar again broke its record from the previous Friday, as it stood on average at 4258.49 pesos, The value that will serve as the basis for calculating the representative market price (TRM) that will rule on Wednesday of this week. According to the electronic trading system of the Colombian Stock Exchange (BVC), the average value of the coin today was about 60 pesos above today’s official rate of 4,198.77 pesos.
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The first exchange day of the week, after the festive bridge in Colombia and the celebration of July 4th in the United States (Independence Day) kicked off with a strong appreciation of the dollar not only in Colombia but also against the world’s major currencies especially in emerging economies, given investors’ fears of a sharp slowdown in the global economy.
In Colombia, the dollar reached the level of 4,300 pesos, a value never seen before. The coin was only 20 pesos off that price, and that’s a rebound of just over 81.2 pesos on Tuesday.
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So far this year, the Colombian peso has depreciated by about 5.5 percent and 11.2 percent last year.
The recovery of the dollar in the Colombian market is taking place in a context where the value of a barrel of oil lost more than 10 percent this morning and was trading in the London market at more than $102 a barrel, due to fears of a slowdown. the economy of the planet.