The opening value of the US currency was $4,800. The low price was 44,780, the high price was $4,859.79 and the close was $4,840.
The currency returns to mark a historical maximum in the country and the devaluation of the Colombian peso.
According to the information of the Set-FX platform, negotiations have been conducted for an amount of $1,072 million 1,951 transactions.
Regarding this behavior of the currency, Carlos Sepúlveda, Dean of the Faculty of Economics at the Rosario Universityexplained that the increase in the reference rate reflects international factors.
“Much of the uncertainty and rate hike in the United States is leading to a strengthening of the dollar against other currencies,” Sepúlveda said. THE HERALD.
He added that the internal expectation also contributes to this behavior and in particular the discussion about the development of the hydrocarbon sector.
“A brake on the sector will have structural consequences in the economic dynamics and this influences the decisions of various agents that hit the market representative price even more,” the analyst said.
On the other hand, Jeisson Balaguera, executive director of Values AAAindicated that the depreciation of the Colombian peso against the dollar is much greater than in other regions, largely influenced by the uncertainty posed by tax reform.
“President Petro’s announcements, such as placing a tax on… capital outflowhas led, among other things, to a fairly rapid increase in the conversion from pesos to dollars,” said Balaguera.
director of Fe developmentLuis Fernando Mejía explained that since July 1, the average depreciation in the region is 5.4% and in Colombia 12.8%.
“International factors explain part of the peso’s loss in value, but local factors also have an influence, such as Minister Ocampo’s announcement, in which there is a responsible macroeconomic policytax compliance and export diversification,” said Mejía.
He added that the gain that can occur in the dollar is also 5%, 10% or up to 20% the debt will increase of Colombia with these sovereign debt securities that are currently in dollars.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
