The Dollar Is Still Firing And Is Already Close To $ 3,500

| October 03, 2019 – 00:00

Keep sliding! There is more news for you.

The currency registered an average price of $ 3,497.28. To this panorama was added the fall in oil prices after the United States reported a new rise in its reserves.

RELATED

The fall in oil prices and an international context of uncertainty in the face of the commercial war and the possibility of a slowdown in the world economy have marked the rapid devaluation of the peso against the dollar that yesterday reached a new all-time high in Colombia by placing itself in a average of $ 3,497.28.

This is how yesterday the average was less than $ 3 to overcome the $ 3,500 barrier. The US currency had a minimum price of $ 3,485 and a maximum of $ 3,503. USD972 million in 1,745 transactions were traded on the Set-FX platform.

The bullish behavior of the exchange rate is explained by the US labor market report, which had a reduction in job creation figures, which reaffirmed the concerns of a slowdown in US economic activity.

"This led to the reduction in risk appetite in global markets, which was reflected in the fall of the 10-year Treasury rate and the appreciation of gold," says the Bancolombia economic research group.

To this panorama was added the fall in oil prices after the United States reported a new rise in its reserves. In London the barrel of Brent for delivery in December fell 2.0% and closed at USD57.69, while in New York the WTI, also for November, fell 1.8% to USD57.69.

The Colombian currency is the second most devalued currency in the last year, after Argentina, after reaching a depreciation of more than 15% last August, according to the Bloomberg platform.

Experts say that despite the rise, the currency can still be bought at a lower price in the exchange houses.

You have enjoyed all the free content of the month that we offer to our visitors

We invite you to register at EL HERALDO

Enjoy the following benefits:

Daily newsletter

Unlimited access

SEARCH FOR MORE

YOU MAY ALSO LIKE