The price of the dollar in Colombia began to rise again, after on Friday, July 22, it rose near 4,450 pesos, affected by the recent drop in oil prices and the market movements in Europe that followed. High interest rates.
The Colombian Stock Exchange reported that this coin opened the market at 4,428 pesos, 18 more than the representative market price set by the FSA for today at 4,410 pesos and 14 cents, after yesterday it crossed the 4,300 barrier and regained part of what was lost last week.
Likewise, in its first run, the US currency rose without brakes so far, and is even at a maximum point above 4,440 pesos, With the continued rise in its price, which started yesterday, Thursday, July 21After the Wednesday holiday due to the Independence Day holiday.
This week has been good for those who rely on the rise of the dollar, because despite the fall of last Thursday and Friday (July 14 and 15), since its beginning on Monday 18, it made clear its intentions to rise and search for that historical maximum of 4600 pesos which made many think .
In other values reported by BVC, at the moment this coin is priced at an average price of 4,432.16 pesos, With a final (9:00 AM) value of 4,445 and a minimum of 4,412 pesos and 08 cents. According to analysts and experts, this slight decline will not affect the dynamics of growth, since there are factors that push its rise.
First of all, it should be borne in mind that the global oil market closed with its decline yesterday, after the recovery of gasoline reserves in the United States revealed a decrease in demand, with the resumption of crude oil production also in Libya.
The price of a barrel of Brent North Sea for September delivery fell 2.86% to $103.86 in London, after losing as much as 4% on the day. while, The price of a barrel of West Texas Intermediate (WTI) for the same month fell 3.53% to $ 96.35, despite losing 5%.
The US Energy Information Agency (EIA) announced, on Wednesday, an unexpected rise in commercial gasoline reserves, which were 3.5 million barrels above the levels of the previous week, three times what the market had expected.
On the other hand, international markets remain optimistic about good weather in the US, despite historical inflation of 9.1%. (the highest level in 40 years) will not lead to an economic recession, but to a sharp slowdown in various sectors of the industry.
Likewise, all markets are waiting for the measures announced by the Federal Reserve, which must be very smart to confront this scourge, without affecting industries and continuing to reduce the purchasing power of citizens, who believe that everything is improving in the middle and in the long run.
Yesterday’s news was undoubtedly a 0.50 point increase in interest rates announced in Europe, the highest increase in 11 years, which raises interest rates to 0, 75%, which is not uncommon in Eurozone countries. This was given as a strategy to try to curb the increase in inflation, Which rose to 8.6% in June.
It should be noted that the increase decided by the European Central Bank was higher than expectations. This is the first increase since 2011, and the expectation is that there could be further increases, for which monetary policy leaders will be watching indicators.
In the case of Colombia, the decisive moment will be next week, when the Banco de la República decides to raise or maintain interest rates or What are the announced measures to curb the rising cost of living in the country which is currently 9.67%?; One of the highest personalities in the country’s history.