The investors already exchange the dollar at more than 4,100 pesos, according to information from the Colombian Stock Exchange (BVC). After 94 transactions, the currency has been traded, on average, at 4,144 pesos, showing a minimum value of 4,100 and a maximum of 4,175 pesos.
Remember that The Representative Market Rate for today in Colombia was 3,941.92 pesos, as determined by the Financial Superintendence since last Friday afternoon, a new record figure in the country.
The rise of the currency occurs in a context in which oil presented a new collapse in its prices. According to information from the EFE Agency, in its reference Brent, crude oil lost 10.3%, bringing it to $ 30.34 per barrel.
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“To the extent that travel is restricted, oil prices fall and in Colombia we would have less dollars per barrel, so the price of the currency would rise, ”explained Wilson Tovar, head of economic research at Actions & Values.
And he added: “we have a day of volatility again. There are some decisions that were made last night by the Federal Reserve to reduce interest rates. The market is weighing and sizing how much the economy is going to cool down and see if those decisions are enough“
Sunday March 15 the United States Federal Reserve reduced its interest rates to 0% and announced the injection of 700,000 million dollars into the economy, to deal with the economic effects of the spread of the coronavirus.
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