What seemed like a new day of losses for the dollar in Colombia, after several sessions with a downward trend, ended up becoming a session of shocks, which finally closed with a rebound in the US currency.
(Dollar reversed its losses and closed higher this Friday).
In the early stages of the day, foreign currency traded below $4,800, but then reversed course and ended at an average price of $4,825four pesos above the TRM of the day, in the midst of the expectation for the decision of the Banco de la República on interest rates and for the news of the removal of Carlos Gustavo Cano from the presidency of the Board of Directors of Ecopetrol.
“The movement of the dollar today in Colombia had two events: one the political issue (appointment of the president of the board of Ecopetrol) and the expectation for the decision of the Banco de la República on monetary policy, which is why there was a market that covered”said Diego Franco, President of Franco Group SA, Head of Investments Franco Capital Management.
(Carlos Gustavo Cano was removed from the presidency of the Board of Directors of Ecopetrol).
For the analyst, what took the market by surprise is not even that the appointment of the new president of the board of directors of Ecopetrol is close to Gustavo Petro (Saúl Kattan Cohen was appointed to the position) “because finally that happens frequently”.
However, what gave the market distrust “is that there is an appointment and then a removal in 24 hours. That was what scared the market because it is considered an arbitrary intervention by the president”, he added.
After the removal of Carlos Gustavo Cano as Chairman of the Board of Directors of Ecopetrol, 24 hours after being appointed to the position, the oil company announced the results of a new vote in which Saúl Kattan Cohen was elected.
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