Since the end of 2018, the dollar has not been below $3,000, and in general, the constant during the Duque government was the devaluation of the currency. / Getty Images
Photo: Getty Images
The Colombian dollar made history again. This Monday, it rose $190 and crossed $4,500 on the day. The session started trading above $4,470, at various times it crossed $4,500 and closed the day at $4,578. The representative market price (TRM) for today’s session is $4,388.27. The coin was at $4,513 on average.
At around 11:00 a.m., the dollar was priced at $4,487.82 and represented a 1.97% increase, according to Bloomberg. The dollar reached a maximum of $4,580 on the day, according to the SET platform. During the day, more than $1,155 million were negotiated through 2,066 deals.
According to the EFE, the rise in the exchange rate is largely due to fear of a global recession in the second half of the year. Uncertainty has been heightened by US Federal Reserve interest rate hikes since March, as well as recent reports confirming weakness in major economies.
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European stock markets fell on Monday, and Hong Kong closed losses of about 3%, affected by the resurgence of Covid-19 in various regions of China which could cause new health restrictions in the Asian giant.
By mid-morning, the Paris stock market was down 1.57%, the Frankfurt Stock Exchange by 1.30% and the London Stock Exchange by 0.93%.
For their part, Madrid lost 1.07% and Milan 0.65%.
See: Why is the dollar rising in Colombia? Experts answer
In Asia, the Hong Kong stock market closed down 2.77%, in the context of renewed investor concerns about possible restrictions in Shanghai to control the outbreak of the new Corona virus in China.
In China, stock markets also fell at the close: the Shanghai index fell 1.27% and Shenzhen, the second largest in the country, 1.47%.
Shanghai recorded more than 120 Covid cases over the weekend, including the first case of the highly contagious omicron BA.5, forcing authorities to launch a new round of mass testing.
For its part, Macau began its first confinement since the outbreak of the epidemic began on Monday, in order to curb the worst wave of the Corona virus that it has suffered so far.
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