The price of the dollar in Colombia today, August 21, exchange rate and value in Colombian peso

The price of the dollar in Colombia on Sunday, August 21, 2022, remained unchanged. The exchange rate increased by 13.56% (525.3 pesos). Referring to the same day of the previous year, it rose by 2.25% (96.91 pesos) compared to the same day of the previous month.

The Market Representative Exchange Rate (TRM) is the amount of the Colombian peso per 1 US dollar. TRM is calculated on the basis of foreign exchange purchases and sales between financial intermediaries that trade in the Colombian foreign exchange market, complying with the same day the foreign exchange is traded.

Currently, Colombia’s Financial Supervisory Authority is the body that calculates and certifies TRM on a daily basis based on operations recorded on the immediately preceding business day. Today they are as follows:

Dollar movements in Colombia

Given this volatile behavior, analysts have explained that the exchange rate channel acts like an “escape valve” in times of high liquidity pressures, given the high inflation that Europe is experiencing, as well as rising expectations that the Federal Reserve will return to the upside. Sharp rates In addition to the rising price of gas, the uncertainty over the US currency will be unstoppable and unpredictable.

“Exchange rate volatility is now higher than before, due to the perception of high risks due to external factors (concerns of global recession, rising inflation, interest rate hikes) and also to the uncertainty associated with the overall challenges of Colombia (the high deficit twin) Amidst the new government’s ambitious reform agendasaid Giulio Cesar Romero, chief economist at Corficolombiana.

As for crude oil prices, they also fell last Friday after rising for two days and headed for a weekly loss, as the dollar’s strength and fears of a global economic slowdown amid rising inflation took their toll.

A barrel of Brent oil is a reference to Colombia It fell 1.82% to $94.83. While West Texas Intermediate (WTI) was also down 1.64% to $89.02.

“Global recession and destruction of demand are the main reasons for concern due to weak data from the US, Eurozone and China. Signs of slowing economic growth are widespread and could dampen oil demand.” PVM analysts said.

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