The price of the dollar in Colombia rose all day: how far did it close?

With results that it did not achieve almost a week ago, the dollar ended Thursday, July 21 in the country, which is slowly regaining lost ground and located at the levels expected by analysts and investors, who are maintaining their interest. Inflation that does not work and oil that remains volatile in the international market.

According to the Colombian Stock Exchange, this currency closed at 4,426 pesos and 55 cents, 122 more than the market representative price set for today by the Controller at 4,304.34; And so it endorses the upward trend that you started with, and escalated very early on.

Similarly, this latest price is 104 above the closing values ​​of last Tuesday 19, when it finished at 4,322 pesos by 60 cents, after a day of modest profits and a lot of uncertainty in international markets due to the high cost of living in the country. Europe and the United States.

In other values ​​reported by BCV for today, The dollar managed an average price of 4,406.08 and a minimum of only 4,325, The same opening. This was a day of continuous increases for the US currency, which reached a maximum price of 4,434 pesos and 85 cents.

Oil prices, the recent rise in interest rates in Europe and rising inflation in the United States, which has reached record levels in the last 40 years, were among the critical factors that weighed on the dollar’s rally for this session, as markets are still standing. suspecious.

It is worth bearing in mind that according to the financial survey For July, revealed by Fedesarrollo, analysts expect this currency to continue rising and be very close to 4,500 pesos by the end of this month and over 4,200 by December.

Analysts expect a representative market price for July to be between $4,365 and $4,546, with a median response of $4,495. Similarly, they expect a TRM of $4,200 to December 2022, Fedesarrollo said in its report.

These results show a clear upward trend, since June, Experts’ forecasts ranged from 3,846 to 3,976 pesos, with an average of 3,885 pesos.

Likewise, they expect a TRM of 3,820 pesos as of December 2022. However, we will have to wait for what may happen in the following weeks and the reactions that occur in the US and Europe.

Unemployment claims are increasing in the United States.

Weekly recordings of Unemployment benefits rose again last week in the United States, to the highest level since November, despite the persistent difficulties employers face in finding work.

Between July 10-16, 251,000 people applied for unemployment benefits, 7,000 more than the previous week, according to Labor Department data released Thursday. The number exceeds the 240,000 requests expected by economists.

In total, about 1.4 million people received some form of unemployment assistance In the week of July 3-9, the number of people increased by 51,000 people from the previous week.

This increase is not “significant”, noted Ian Shepherdson, of Pantheon Macroeconomics, who noted that the numbers are “misleading” due to the annual shutdowns of car manufacturers’ production lines, posing problems for seasonal adjustment (from the data), as the timing and duration of these shutdowns varies each general “.

* With information from AFP.

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