The dollar closed at $4,388.43 on average, up $18.73 against TRM today

The dollar closed this Friday at an average of $4,388.43, which is an increase of $18.73 compared to the representative market price (TRM), which stands at $4,369.70 in today’s session.

The open price of Set-FX was $4,413.50 while the high was $4,438.00 and the low was $4,351.00. During the day, more than 1,056.7 million USD were traded through 1,160 trades.

With the recent rally, the main question is whether Colombians should buy the greenback at $5,000. Although this figure is not on the horizon yet, some experts expect the coin to reach $4,600 when Ivan Duque takes power and Gustavo Petro takes office, but it will be moderate. Overall, the median forecast is around $4,200 for August .

“The components that will have a greater impact on the exchange rate are fears of a global recession, increased energy costs in Europe and pressures in the United States. Between now and August 7, I don’t think this will go far from the solution, that is, the pressures will continue,” Giulio explained. Cesar Romero, chief economist at Corficolombiana.

Oil prices rose on Friday amid a volatile session, but were headed for a weekly decline as concerns about the possibility of lower demand due to the recession outpaced tight global supply.

A barrel of Brent oil, the reference to Colombia, rose 1.19% to $105.90, and West Texas Intermediate (WTI) also rose 1.28% to $104.05.

Another point to be mentioned, which will not cease to be an important issue for the time being, is the uncertainty surrounding the new government of President-elect, Gustavo Petro, who has not yet appointed his cabinet.

At the moment, it is known that the Minister of Finance will be Jose Antonio Ocampo. Foreign Minister Alvaro Leyva. Culture Minister Patricia Ariza; Health Secretary, Carolina Corco; Agriculture, Cecilia Lopez; Environment, Susanna Muhammad; and Education Minister Alejandro Gaviria.

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