The price of the dollar in Colombia closed the week with an increase of more than 40 pesos, between Monday and Friday, and whose trend was strongly marked by high volatility.
(Read: What does it mean that Colombia has a negative outlook on its credit rating?)
According to the Stock Exchange, The US currency closed this Friday at an average price of $4,147, That is, it rose 43 pesos compared to the Representative Market Rate (TRM) at which it opened on Monday, which was $4,104.
Despite the weekly rise, the foreign currency fell intraday after the US inflation figure was released, which fell slightly in May to 2.6% year-on-year, as expected, according to the PCE index published this Friday by the Department of Commerce.
(See: ‘Rate war’: Bancolombia announces interest reduction on housing loans).
Dollar.
In April, 12-month inflation was 2.7%, according to the PCE, the index most closely followed by the Federal Reserve (Fed, US central bank). Monthly inflation in May was zero, compared to 0.3% the previous month. The results are in line with the average forecast of economists surveyed by Dow Jones Newswires and the Wall Street Journal.
(Also: Slowing inflation decline won’t prevent further rate cuts: why).
Data released Friday by the Commerce Department also showed that personal income rose 0.5% from the previous month, up slightly from 0.3% in April. Personal savings as a percentage of disposable income rose to 3.9% in May, up slightly from the revised 3.7% in the previous month.
BRIEFCASE
Add Comment