With the triumph of Gustav Petro, the market is getting ready for a rise in the price of the dollar in the coming days. This has been indicated by some analysts who point out that the price of the US currency suffered a “shake”since it is likely that “many people who have a significant amount of money in dollars take this money out of the country” Given the uncertainty generated by an unprecedented change of government, warns Jeisson Balaguera, executive director for Values AAA and professor at the EAN University.
Nevertheless, This probable variation can only be verified in the official market until next Tuesday, when operations are restarted in the local market.
Because this Monday is a holiday in Colombia, the operations will be carried out under transactions in nextday, which are made with a deadline of one or two days. That is, if an operator makes an operation in the system tomorrow to buy dollars, they will receive them on Tuesday or Wednesday depending on the characteristics of the negotiation.
Thus, the local market that is traded on the Stock Exchange will be closed this Monday, therefore, the Representative Market Rate that will continue to apply until Tuesday will be $3,905, the level at which it closed on Friday.
Any other price that is negotiated in exchange houses belongs to the unregulated market and its price depends on the available demand.
“Today there is no dollar market in Colombia. Neither tomorrow. The price in an exchange house or the one that your aunt pays you, is NOT the price of the dollar. Do not misinform, with one or two transactions please, do no harm”, pointed out the analyst and Associate Professor of Economics at the Javeriana University, Jorge Restrepo, regarding information circulating on networks accompanied by a photo in which the price of the dollar is observed at an exchange rate of $5,000.
Although the possibilities that the dollar rises in the coming days, for now the truth is that this value is not official and that only until Tuesday will the direction of the US currency be known.