January 29, 2022

The Tampa Herald

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The dollar exceeded the $ 4,000 barrier

2 min read

The dollar opened the day with a rise of 12 pesos and is quoted on average at $ 4,000 compared to the representative market rate, which for today is $ 3,988.

According to the Colombian Stock Exchange (BVC) during the first minutes the North American currency has reached a maximum price of $ 4,007 and a minimum of $ 4,000.

The exchange rate did not exceed $ 4,000 since April 29, 2020 when it reached $ 4,046, meanwhile, the Colombian peso became one of the most devalued currencies in the world, accumulating a depreciation of 16%.

According to analysts, the increase in the price of the North American currency is due, among others, to the growth in employment figures in the United States for last July and the uncertainty that the pandemic continues to generate, especially the Delta variant.

The loss of value of the Colombian peso against the dollar has negative implications for the pocket of Colombians, since a good part of the goods and services that families consume are imported in addition to some raw materials and inputs that have an impact on the increase in the prices of some foods.

National tourism wins with the price of the dollar, since the hotel sector benefits because it is cheaper for foreigners to visit the country, as well as exporters who receive more money for their transactions in dollars.

The Government, companies and people who have debts in dollars are also affected, because they will end up paying more than they received.

For its part, oil fell on Monday to US $ 66.05 the WTI, while the Brent, the reference for Colombia, reached US $ 68.67 a barrel.

This decline in crude prices is explained by the advance of the dollar and concerns that new restrictions due to the advance of the coronavirus in Asian countries such as China slow down the recovery of oil demand in the world.


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