During the third exchange day of this week, the dollar continued to gain ground once morest the Colombian peso, to the point that today it advanced another 40.5 pesos once morest the current representative market rate (TRM) of 4,975.58 pesos, and stood at 5,016.1 pesos, a new historic brand for this market in Colombia.
(Also read: Tax reform: plenary sessions of the Chamber and Senate debate the project)
According to the records of Electronic Trading System (SET-FX) of the Colombian Stock Exchange (BVC) The highest price that was paid for a single dollar this Wednesday was 5,038.5 pesos, while the lowest was 4,989.01 pesos, the latter higher than today’s TRM.
With this advance, the US currency completed two series records this weekwhile the peso remains one of the most devalued currencies in the world, regarding 26 percent, if one takes into account that the official rate for tomorrow, Thursday, will be around 5,016.1 pesos.
(You may also be interested in: Keys to the reform of the electricity sector in search of more competitive prices)
The Minister of Finance, José Antonio Ocampo, flatly ruled out this morning that the new increases that are taking place in the cost of the dollar are a consequence of the discussions that are taking place around the tax reform project in the Congress of the Republic.
For its part, Mauricio Santa María, president of the economic studies center Anif, He wrote on his Twitter account that: “Today Colombia is the country with the most devalued exchange rate with respect to the dollar (since June 19), in a sample that includes emerging, developed European and large LA countries. Could it be that Is there any doubt that economic uncertainty is affecting the market?
The director added, in a second trill that: “Being more devalued than Argentina is a very worrying fact. The economic policy in that country is the closest thing I know to a disaster. The world is severely punishing us for the disorder, the incoherence and uncertainty regarding the future of energy policy”.
For merchants, a dollar above 5,000 pesos will undoubtedly have a strong impact on the cost of some products, goods and services. Jaime Alberto Cabal, president of the National Federation of Merchants (Fenalco), pointed out that this situation aggravates the issue of prices in the country, which will continue to prevail.owing to inflation.
“This is not just a wake-up call but a bell so that the tax reform that is being discussed in the Legislature is taken and analyzed very seriously by the congressmen,” said the union spokesman.
Economy and business
