After a day in which the dollar again broke a new ceiling, as it was on Thursday, when it managed to climb to $4,144, the currency began on the last day of price of the week staying above $4,100, but with a slight dropsince it registered an opening average of $4,135, being $9.79 above the Representative Market Rate, which for today is $4,144.79.
By 9:00 in the morning, the currency managed to trade downward at $4,097.10, being $47.69 below the TRM. Besides, This Friday, minimums of $4,070 and maximums of $4,136 were registered.
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This has happened in the middle of a critical global outlook and recent scandals in local politics. Internationally, the moves have come as Fitch downgraded the US long-term credit rating to AA+, from AAA, and following the Central Bank of Japan’s decision to release control of the curve.
All this has led to the fact that in the course of the week, The Colombian peso is the most devalued currency within the emerging ones, losing 5.78%.
According to Bloomberg, investors are taking stock at the end of a difficult week in the bond market. The Fitch Ratings shake-up that stripped the US of its AAA credit ratingsThis was compounded by news Wednesday that the government will boost quarterly debt sales to $103 billion.more than expected.
Yields soared to their highest level since November as lThe merchants were concerned about the increase in supply wiping out Treasury market gains by 2023.
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About oil prices
The barrel of Brent oil, a reference for Colombia, rose 0.48% to US$85.55while WTI fell 0.45% to US$81.92.
Oil prices rose about 2% on Thursday, as Saudi Arabia and Russia took steps to keep supplies tight through September and possibly beyond.
The lack of big price moves in recent weeks has reduced historical or actual volatility in 30-day Brent futures measured close to close to its lowest level since February 2022.
Saudi Arabia said it will extend a voluntary oil production cut of one million barrels per day (bpd) for a third month to include September, adding that it could extend beyond that or deepen the measure.
Colpress.
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