Dollar starts the week with a sharp fall and below $4,400

The price of the dollar in Colombia fell this Monday and The day started below $4,400, the level at which it closed last week.

(Read: Dollar in Colombia: will it rise, fall or what to expect from the currency at the end of November?).

According to the Stock Exchange, The US currency closed at an average price of $4,382, that is, it lost 36 pesos compared to the Representative Market Rate (TRM) which was $4,418.

The foreign currency falls, while, in parallel, the Brent and WTI references in oil prices fall 0.20% and 0.25% respectively, standing at 74.48 dollars per barrel and 71.09 dollars.

The market is attentive to the development of the most recent events in the geopolitical conflict between Russia and Ukraine.

(Also: Colombians’ purchasing capacity grew 6.32% with the current real minimum wage).

It also has its eyes on the preliminary US PMI composite index figures which rose to 55.3 points in November from 54.1 in October, marking the largest expansion in business activity since April 2022.

This growth was driven by an increase in demand, with new orders recording their biggest increase since May 2022. However, The economy showed uneven behavior: the services sector grew at the fastest pace since March 2022, while manufacturing continued to decline, although with a more moderate decline.

(Here: The project that threatens guardianship as a defense against unfair dismissals).

Future expectations improved, reaching the highest level since May 2022, driven by reduced political uncertainty following the elections, expectations for lower interest rates and inflation, and a more business-friendly administration, especially in manufacturing.

PORTFOLIO