Yesterday, the dollar registered its third consecutive fall in Colombia, this time of $124, after having dropped $108 between Wednesday and Thursday.
This week the currency reached historical figures over $4,600 pesosin the face of inflation in most countries that is reluctant to go down despite increases in interest rates by central banks and in the face of fears of a recession in the United States that will affect many economies, including Colombia.
(Read: Coins continue to fall, but the peso rebounded).
Despite the fact that the currency had been unstoppable between Monday and Tuesday, with the decreases of the last three days anyway it is at levels close to $4,400.
The day opened with a price of $4,450 and the price remained low throughout the day, reaching settle at $4,370.60.
After 11 am, the currency rose a little and traded on average at $4,409.39, this is $110.26 below the Representative Market Rate (TRM) of the day, which was 4,519.65 pesos.
In the end, the week ended at an average price of negotiation of 4,393.92 pesos, $125.73 below the TRM.
In relation to the average trading price on Tuesday, July 12, the highest in history (4,627.36 pesos), the currency closed the week down $233.44.
According to foreign exchange market analysts, this moderation that has been taking place since Wednesday is due to the fact that a overreaction to international newss and local; that include the high expectations of a recession in the United States, as well as the appointments of the ministers of the new Government that will take office on August 7.
(Also: Effects on ordinary citizens: what would rise due to the rise in the dollar).
In any case, yesterday there was less volatility in the international markets. Stock futures also rose, after five straight days of losses.
During this year the devaluation of the peso reaches 10.37% and in the last 12 months is 15.75%.
With the fall in the price of the dollar this Friday, a revaluation of 2.78% was presented.
This year the price of the dollar in Colombia has presented an increase of $413.
The prices of a barrel of Brent oil, the reference for crude oil exported by Colombia, rose to US$100.98 after having fluctuated between US$95 and US$98 in recent days on international markets.
BRIEFCASE
