Price of the dollar in Colombia closed the week below $3,900

The price of the dollar in Colombia remains below $3,900 due to the high volatility of the market. The American currency closed the week with an average price of $3,858.65, losing about $30 in relation to the TRM of the day ($3,888.76).

(Read more: ABC of the project that proposes charges for Bre-B transactions: how it would be applied)

According to the Colombian Stock Exchange (BVC), at the close of trading, the foreign currency reached a maximum value of $3,874.50 and a minimum of $3,850.50. For its part, the opening price was $3,873.90.

In this way, despite this fall, the greenback ends the week earning $50considering the slight rebound that it registered at the beginning of this period amid diplomatic tensions between Colombia and the United States, when the TRM stood at $3,808.

The US currency negotiations took place in a context of ‘clashes’ between both countryyesmarked by the exchange of statements between President Donald Trump and his Colombian counterpart, Gustavo Petro.

Despite the progress to overcome the impasse in the bilateral relationship, The relationship remains tense. The most recent event occurred this Friday, October 24, when the United States Department of the Treasury announced the inclusion of President Petro on the list of the Office of Foreign Assets Control (Ofac).

In previous days, the United States had also reported the suspension of all payments and financing to the national territory.

(Read more: General rejection of ’15 x 1,000′ proposal for transactions in Bre-B)

(Read more: The Colombian economy would grow 2.5% in 2025, according to a new projection by ECLAC)

Oil prices

The price of Texas intermediate oil (WTI) fell a slight 0.47% this Friday, up to $61.50 a barrel, thus breaking with the increases of more than 5% achieved yesterday after the new United States sanctions on the two largest Russian oil companies.

At the end of the session, WTI futures contracts for delivery in December were down 28 cents compared to the previous day’s close.

The price of black gold soared this week after the US Treasury Department announce sanctions against the two main Russian oil companiesRosneft and Lukoil, in response to the “lack of serious commitment by Russia to a peace process to end the war in Ukraine.”

(Read more: Government will seek to charge businesses for Bre-B transactions)

PORTFOLIO / EFE