The price of the dollar was quoted up on Friday when trading on average over 3,367 pesos, with an increase of 14 pesos compared to the Representative Market Rate (TRM), established by the Financial Superintendence of Colombia at 3,353 pesos.
During the week, the US currency increased 47 pesos, since on Monday the currency was quoted at an average price of 3,320 pesos.
During the day 2,133 transactions were made in the Colombian Stock Exchange (BVC), for an amount that amounts to $ 1,207 million, which has led the US currency to touch a maximum price of 3,380 pesos and a minimum of 3,349 pesos.RELATED
Also read: Reducing payroll costs would help boost employment: BBVA
For Daniel Lombana, an economic analyst for Fiduciary Action, this marked rise responds in part to fears of the spread of the coronavirus, which leads investors to go to shelter assets, such as the dollar.
For his part, the economic analyst Orlando Santiago Jacome points out that this increase also responds to the start of the political trial against the president of the United States, Donald Trump.
"You can't forget that Trump is running a pro-market policy and any situation that threatens the president's stability, of course, causes concern, so investors take refuge in dollars," Jacome explained.
Of interest: The bicentennial currency will be issued between April and June: Banrep República
The trial faced by the US president is ahead because Trump tried to pressure Ukraine to interfere in the 2020 elections, suggesting his counterpart Volodimir Zelenski to investigate the business in that country of the son of former Vice President Joe Biden, who could be his Democratic rival in the presidential ones.
On the other hand, oil prices remain low; Thus, Brent reference crude reached 60 dollars a barrel, while West Texas Intermediate crude is quoted at 54 dollars a barrel.