Price of the dollar in Colombia rises this Wednesday after Donald Trump’s victory

He The price of the dollar in the Colombian market rises this Wednesday, hours after the electoral results of the presidential race were known.which was won by Donald Trump, who returns to the White House.

(Read: This is how world stock markets and markets react to Trump’s return to the White House).

According to the Colombian Stock Exchange, The foreign currency is quoted at this time at an average price of $4,466that is, it rises 45 pesos compared to the TRM of the day, which is $4,421.

According to Geovanny Parra, professor at the Faculty of Economic and Administrative Sciences at the University of San Buenaventura, when reviewing the data from the last election in which Donald Trump was involved and which he ended up winning, the foreign currency in Colombia had a significant appreciation.

(See: Bitcoin breaks a new record after Trump’s victory and exceeds $75,000).

“At that time, in November 2016, The dollar in the country showed an appreciation of around 5.5%,” says Parra, a scenario that would be repeated in the next sessions in the local market.

The above, according to the expert, “It meant an increase of up to $166, because the minimum value went from $2,984 to a maximum of $3,187, which occurred almost three weeks after the victory of the Republican candidate”.

Parra also indicated that the market takes into account what Trump has said about the future of interest rates, an aspect that could end up conditioning the dollar in Colombia.

“During the campaign Trump assured that the president of the United States should have influence in the decision made by the Federal Reserve on interest rates. At the same time, he insisted on putting limits on commercial and personal interests with a view to stimulating economic activity through consumption.”says Parra.

(Also: ‘American Dream’: Bernie Moreno, the Colombian who won a position in the US Senate).

In other markets, The dollar also registers a strong rebound against other currencies, while bitcoin breaks records.

PORTFOLIO