Amid an aversion to risk assets, in addition to the inauguration of the presidency by Gustavo Petro, the dollar in Colombia trade down this sunday August 7thwith a price of 4,317 pesos Colombians.
This new value of dollar in Colombia It is less than what was obtained on Saturday, August 6, when the US currency was quoted at 4,337.28 pesos Colombianswhich translates into a drop of up to 20 pesos.
This week the dollar closed in several Latin American markets on the rise, as the region’s stock market showed an irregular behavior, with many drops and rises in different areas of the region.
The world economy is going through a difficult time, because in addition to the coronavirus pandemic from which there is still no stable recovery, and the war that Russia is still holding with Ukraine, now we must add the conflicts between China and Taiwan after the visit of the president of the House of Representatives of the United States, Nancy Pelosi to the Asian island.
The devaluation worries the rulers of the countries of Latin America, which struggle to maintain a balance in their economy; Gustavo Petro will take office this weekend and will do so with this issue as one of the main issues to be resolved in a short time.
Several experts have claimed that the dollar it will continue with its instability for the remainder of the year, all this due to the inflation in the market. Even with this diagnosis, it is expected that the Gross Domestic Product will increase its value by up to 6 percent by the end of 2022, or by the first quarter of next year.
Markets around the world are also keeping an eye on US non-farm employment figures; Among the surprises with which it closed the day of the week is that the Bank of England made the maximum increase in rates in 27 years, which seeks to stop the inflation of more than 13 percent that suffocates them.
The price of crude oil will see an increase this August in Colombiathis despite the fact that rumors of an economic recession began to dissipate.
This responds to the fact that the Organization of Petroleum Exporting Countries agreed this week to raise its oil production target by 100,000 barrels per day for next September.
The increase in production is a way to respond to the sanctions that have been placed on the export of Russian oil, which will come into force in December of this year; Europe will have to worry about the approaching cold snap, as they will need fuel for their heating systems.
JAP