Dollar closed, for the second consecutive week, above $ 4,000

The price of the dollar in Colombia fell this Friday, July 26, but remains above $4,000, the level at which it closed the week.

According to the Stock Exchange, The foreign currency closed at an average price of $4,014, which represents a drop of 21 pesos, compared to the Representative Market Rate which was $4,035.

The US currency fell a day after it was announced that the US GDP grew by 0.7% during the second quarter of this year, three-tenths more than the previous three months, due to increased consumer spending in a context of decreasing inflation and a solid labor market.

The estimated figure is the first of three published by the Bureau of Economic Analysis (BEA), which also announced that the annual growth rate was 2.8%, a figure much higher than that of the first quarter, 1.4%.

The data came just one week before the Federal Reserve (Fed) holds its July meeting, at which it will announce its decision on interest rates. In the US, it was also confirmed that orders for durable goods fell by 6.6% in June compared with the previous month.

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