There was a lot of expectation about what was going to happen with the international currency on August 8, after Gustavo Petro took office as president of Colombia. Although in his first words as president of the country he wanted to give a piece of calm and progress in his government, the international response was not the same.
Since last week there has been an upward trend in the price of the dollar in relation to the Colombian peso. In fact, Iván Duque said goodbye with the value of this coin above 4,300 pesos.
The trend continued in the first minutes of this Monday. The opening price was 4,310 pesos on the Colombian Stock Exchange in the first transactions it rose to 4,320 pesos. However, as the minutes passed, it stabilized quite a bit and it remained at an average price of 4,311 pesos.
Although the price of the dollar will surely change throughout the day and in the coming weeks It will be seen in more detail what the influence of the new president is, this first change is very important to know what can happen.
(See also: Expenses that Colombians should not have these days due to the high price of the dollar)
Gustavo Petro receives the country with a dollar to 4,310 pesos in the Stock Market and with a Representative Market Rate (TRM) of 4,337.28 pesos. This last price is the one that applies to international transactions.
Representative Market Rate in force for 06-Aug-2022, 07-Aug-2022 and 08-Aug-2022: $4,337.28 pic.twitter.com/JX0z8nfIh3
— Superfinancial (@SFCsupervisor) August 5, 2022
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Without a doubt, One of the new president’s challenges is for the price of the dollar to drop, and for this the decisions he makes will be very important. It is known that he will seek for the country to have a change in the oil extraction model and that may be one of the factors that most affects the dollar in Colombia.
Due to this situation, some people believe that the price of the dollar could reach 5,000 pesos, but it is all mere speculation and it will only be known as the days go by.