The price of the dollar continues to weaken. The foreign currency added a new day of losses this Thursday, thus maintaining the downward trend that has predominated this week, given the global uncertainty due to Trump’s return to the White House and oil supply problems in international markets.
(Read: Industry, housing and energy, the most favored sectors of the Credit Pact).
According to the Colombian Stock Exchange, The US currency lost 26 pesos in the local market, trading at an average price of $4,321, compared to the TRM of the day, which was $4,347.
The weakening of the dollar occurs while oil prices strengthen.
Before Donald Trump’s inauguration on January 20, “the eventual introduction of new US sanctions against Russia” With a focus on its oil sector by the outgoing Joe Biden government, it helps support oil prices, Tamas Varga of PVM Energy said this week.
(Also: Expectation increases for compliance with the fiscal rule in 2024).
The dollar “weakened in recent days, which contributes to a rise in crude oil prices”recalled Stephen Schork, of Schork Group.
Since oil is priced in dollars, when the greenback loses steam, the barrel becomes cheaper for investors in other currencies.
The market is also evaluating whether the Chinese government’s new economic recovery measures are enough to boost the world’s second largest economy, which is going through a real estate crisis and registering low consumption levels.
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