The price of the dollar in Colombia closed with losses again on Friday, July 29, after a week to forget everyone who depended on this currency at high levels, since then The volatility of oil prices and the specter of recession in the US did not help him achieve a good result.
According to the Colombian Stock Exchange, This coin ended up at a last price of 4,299 pesos, which is 76 less than the representative market price The FSA set it today at 4,375 pesos and 51 cents, after falling yesterday, Thursday, July 28.
Similarly, this price at the close of operations is 72 less than the price recorded the day before, when it was also higher than 4,371 pesos, once again saying goodbye to the barrier of 4,400 and moving away from the historical maximums it was at the beginning. In the month he even reached 4600.
It is noteworthy that in other securities delivered by BVC, The value of this coin even fell to 4,238 pesos with 50 cents at its lowest levelWhile the maximum opening (4,375) and the average did not exceed 4,294 pesos and 44 cents.
The dollar had not closed above 4,300 pesos since last Tuesday, July 19, when it ended at 4,322 pesos at 60 cents, and then started an upward trend that ended last Monday, when it closed at 4,467 pesos at 80 cents, since the next day. It fell to 4,444 pesos.
Since last July 21, the dollar in Colombia has remained above 4,400 pesos and Without major changes, it reached a record price of 4,625 pesos on Tuesday, July 12.
Just this week, the official currency of the United States lost more than 150 pesos, considering that last Monday, July 25, when it began operations for the past five days, it was at 4467 and today it is very close to 4200.
According to Juan Eduardo Netes, Senior Associate at Credicorp Capital, It should also be remembered that the world is still adjusting to the recent changes in interest rates announced by the US Federal Reserve, which undoubtedly translates into a severe blow to purchasing power and the dynamics of investor participation.
“Remember that on Thursday we saw negative data on economic growth in this country for the second consecutive quarter and today we see inflation growing again; which creates pressures on economic activity that slows the rate of investment and slows down the movement of the dollar,” said Nets.
This expert emphasized that although it is not possible to talk now about a minimum dollar value in Colombia, the truth is that this currency will continue to lose its price against the Colombian peso, as there is tension in the market, which is Looking forward to hearing next weekWhether or not the country’s inflation hit double digits for July.
In fulfillment of the predictions made in the framework of the analysis of what is happening in the world due to inflation and the specter of economic stagnation haunting the major powers of the world, Colombians will have to continue to tighten their pockets, then the announcement by the Banco de la República on interest rates.
After their usual meeting at the end of the month, The source announced that these securities for the month of August were revised up by 150 basis points, bringing them to 9%. This increase seeks to limit the increase in the cost of living that It continues to rise and is currently at 9.67%, a number we haven’t seen in 20 years.
It is worth noting that a month ago, prices rose by 150 basis points, according to the director of the bank, Leonardo Villar, which means that they have risen from 6% since the April meeting, to 7.5 at that time. . This was at that time the highest increase since December 2016, the year of the strong economic crisis in Colombia, when there was a depreciation of the peso, a drop in oil prices and high inflation.