The price of the dollar in Colombia started without news and on stable ground the session on Monday – August 8 after the inauguration of Gustavo Petro as President of the Republic for the period 2022-2026, as a sign of calm markets and this is for now the change of order is received in a good way.
According to the Columbia Stock Exchangethis coin opened at 4,310 pesos, 23 less than the representative market price set for today by the Financial Supervisory at 4,337 pesos and 28 cents, after continued increases last week, in which volatility prevailed.
Contrary to what happened on June 20, after the second presidential round, the price of this currency on this day maintained a steady trend, away from fluctuating between highs and lows, recording a maximum of 4,325 and a minimum of 4,310. Likewise, with a cut-off at 9:00 AM, it records an average cost of 4,315 pesos and 24 cents.
These numbers remain very close to those reached on Friday of last week, when it recorded an upward trend again and ended at 4,345 pesos, on a day marked by the publication of unemployment data in the United States, which It raises concerns of a tougher stance from the Federal Reserve (Fed) on interest rates.
According to analysts such as Juan Eduardo Nates, senior currency assistant at Credicorp Capital, early operations show that the markets are relatively calm, thanks to data revealed between Thursday and Friday last week, in both Colombia and the United States, making the panorama clear to investors and closing Speculation gap.
“The first few weeks showed us inflation and employment numbers in our economy, We saw employment data in the US on Friday, which was well above expectations, what this shows us is that finally the interest rate increases by the Federal Reserve were well justified in some way to manage inflation. This expert explained that the employment data is like the one released on Friday, because what it shows is that economic activity is still recovering.
Although the news at the moment is positive, according to experts, we should be very aware of the announcements that the new government makes in the coming days, as they will affect the markets, through thick and thin, as they are. taken by investors.
“On this day, after the inauguration of Gustavo Petro, we await the text of the tax reform, on the basis of which a rule was established, and know what the aspirations of collection are. We have also learned about the appointments made, which provoked various reactions. “We’re basically walking on familiar territory right now,” Nets said.
Another factor to take into account is that world oil prices are still losing steam and its price is returning to pre-war levels in Ukraine. Currently, a barrel of crude oil is still worth less than $100 for both WTI and Brent.
A barrel of West Texas Intermediate (WTI) crude for September delivery is down 2% right now at $87 in New York, minimum since February before the invasion of Ukraine. Meanwhile, a barrel of Brent crude from the North Sea for October delivery is losing about 1% and falling to $90 in London.