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The price of the dollar in Colombia felt the political crisis, especially the departure of José Antonio Ocampo from the Ministry of Finance, and raised more than 100 pesos during this Thursday April 27th.
(Read: Uncertainty in the Colombian economy due to changes in the Government).
The currency opened 4,655 and throughout the day it did not register values less than 4,600 pesos: its maximum price was 4,678.78 pesos and its minimum, of 4,625 pesos.
At closing it registered a value of 4,656 pesos.
(See: The dollar and its future: will it shoot up after Ocampo’s departure?).
And the average trading price of the day was 4,654.32 pesos, 101.73 pesos above the Representative Market Rate (TRM) of the day, which was 4,552.59 pesos.
As expected, the currency shot up after the arrival of new ministers to the cabinet of the Petro government.
(See: ‘We managed to generate confidence in the country’: José Antonio Ocampo).
Analysts had already warned that this would happen with the currency, among other things due to the “dismissal” of José Antonio Ocampo, who was one of the factors that allowed greater economic relevance in government policies and many investors considered him as a key figure, relayactively promarket, that it played a key role in controlling other more radical members of the Petro administration.
(See: Colombia, among the countries with the lowest growth in Latin America during 2023).
For Professor Hernando Zuleta, from the Faculty of Economics at the Universidad de los Andes, “the dollar is likely to rise, at least in the next few days“.
And for Jeisson Balaguera, an economics expert and executive director of Values AAA, Ocampo was “the ‘pole to ground’ in the government’s economy Petro” and his departure will generate a feeling of uncertainty, “at least until there is clear information on where the government’s economic projections will focus“.
(See: Where is the dollar going? Forecasts of what is coming for the currency).
BRIEFCASE
