The dollar in Colombia registered a strong rise of $61 and the Representative Market Rate for this weekend and Tuesday is $4,129.87, which is the second highest value since March 20, 2020.
(What caused the shortage of dollars in exchange houses?).
On that date, the official currency rate in Colombia was $4,153.91 although the day before, that is, on March 19, 2020, the dollar in bank negotiations reached $4,200 for a few moments.
It must be remembered that in those days covid-19 had arrived in Colombia and in the world it was already causing a high number of fatalities.
(Fall in oil hit Ecopetrol stock again).
This generated a strong volatility in the markets as the government had to decree mandatory quarantines and isolations that were relaxed several months later.
Yesterday, the currency opened operations in the banking market at $4,099, registered an average price of $4,129.85 and finally closed the day at $4,140.50.
Nevertheless, it was the day of the week with the lowest trading volume with US$942 million. The minimum price of the dollar was $4,083 and the maximum reached $4,146.
In the last 12 months, the peso has registered a devaluation of 7.84% and during 2022 the depreciation of the Colombian currency reaches 2.20%.
Analysts believe that the currency’s new rises are driven by new decisions on interest rates by the world’s main central banks in the face of persistent inflation in most countries.
In addition, the fear of a possible economic recession in the United States in the coming months weighs, as several analysts, entities and study centers in the world have pointed out.
Anyway, Domestically, the markets are also awaiting the name of the person who will lead the Ministry of Finance in the next government.
A barrel of North Sea Brent oil for August delivery gained 2.78% to $113.12 in London. Meanwhile, the barrel of West Texas Intermediate (WTI) for the same month rose 3.21% to 107.62 dollars in New York.
For its part, the MSCI Colcap stock index, the main index of the Colombian Stock Exchange, registered an increase of 2.02%, with a volume of $115,000 million.
Analysts explain that despite the good closing of the weekend, the Colombian stock index registers a devaluation of 3.19% so far in 2022.
Ecopetrol’s share, which has suffered heavy losses in recent days after the presidential election, rose 6.68% to $2,139.
In the market, 22 shares rose in price and 8 fell, while the remaining 6 did not change in price.
BRIEFCASE
