This Tuesday, August 9, the dollar is trading on average in the transactional system of the Colombian Stock Exchange (bvc) at $4,285.32, which represents a fall of $21.77 compared to the Representative Market Rate (TRM), which is $4,307.09. So far this session the US currency has marked a maximum price of $4,303 and a minimum of $4,277. US$104.9 million have been negotiated in 260 transactions.
Regarding the last seven days, the American dollar accumulates a rise in 0,03%so that in the last year it still maintains a rise in 14,25%. Regarding the changes of this day with respect to past days, it inverted the value of the previous day, where it ended with an increase of 0.73%, showing that it is not capable of establishing a trend lately. The volatility of the last seven days was lower than that accumulated in the last year, so in this last phase there are fewer changes than usual.
Reaction of the dollar to the possession of Gustavo Petro
Yesterday’s session was the first price of the dollar following last Sunday, August 7, Gustavo Petro took office as president of Colombia. A change of power that generates great expectations due to the different reforms announced within his administration, including a tax reform.
The incoming government published the proposed tax reform on Monday. In dialogue with the newspaper El Espectador, the new Minister of Finance, José Antonio Ocampo, explained that they initially hope to raise $25 billion. But that the collection might gradually rise to $50 billionemphasizing the fight once morest tax evasion.
In the course of the month the representative market rate (TRM) it has remained around 4,300 pesos, with successively balanced variations. The last one, a decrease of 30 pesos, occurred at the end of the first day of Gustavo Petro’s presidency, with which the dollar was at 4,307.09 pesos for this Tuesday, August 9.