Home » News » Dollar today: fall of crude oil for fear of the coronavirus raises the currency strongly – Sectors – Economy

Dollar today: fall of crude oil for fear of the coronavirus raises the currency strongly – Sectors – Economy

Driven by the sharp drop in the price of oil in international markets, which is occurring alongside a general fall in the European stock exchanges due to the rapid contagion of the coronavirus, the price of the dollar in the country began on Monday 24 February with a strong rise.

According to information from the Bank of the Republic and the Colombian Stock Exchange, after opening at 3,410 pesos, that is 12 pesos more than the official rate of the day, the price of the currency began to become important and, towards the 11:00 am recorded an increase of 33 pesos, since its average price was 3,431.05 pesos.

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This level of 3,428 pesos per dollar was not observed, according to statistics, for six months, since for August 8, 2019, its price was 3,431.28 pesos.

On Monday the US currency opened at 3,410 pesos, the same minimum value so far, but operations have been made at 3,442 pesos.

According to the commissioning firm Credicorp Capital, “today there is a renewed uncertainty and risk aversion worldwide due to the increasing spread of the coronavirus in countries such as Italy and South Korea, framed by stock falls, depreciation of emerging currencies, declining sovereign debt rates and rising gold prices. ”

For the analysts of the commission agent, under this context, the peso began the session presenting a strong depreciation, being the second worst performing currency among emerging economies.

ECONOMY AND BUSINESS – TIME

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