With results that it did not achieve almost a week ago, the dollar ended this Thursday, July 21, in the country, which little by little recovers the lost ground and is located at the levels expected by analysts and investors, who keep their attention on inflation that does not yield and an oil that remains volatile in the international market.
According to the Colombian Stock Exchange, this currency closed with a last price of 4,426 pesos and 55 cents, 122 more than the Market Representative Rate set for today by the Financial Superintendent at 4,304.34; thus ratifying the upward trend with which it began, shooting up very early.
Likewise, this last price is 104 above the closing values of last Tuesday 19, when it ended at 4,322 pesos and 60 cents, after a day of modest profits and a lot of uncertainty in international markets due to the high cost of living in Europe and the United States.
In other values reported by the BCV for today, the dollar managed an average price of 4,406.08 and a minimum of just 4,325, same as the opening. This was a day of constant increases for the US currency, which even reached a maximum price of 4,434 pesos and 85 cents.
Oil prices, the recent rise in interest rates in Europe and the growing inflation in the United States, which is at record highs in the last 40 years, were the decisive factors that influenced the rise of the dollar for this session , where the markets remain suspicious.
It is worth bearing in mind that according to the Financial Opinion Survey for July, revealed by the Foundation for Higher Education and Development (Fedesarrollo), analysts expect this currency to continue rising and to be very close to 4,500 pesos at the end of this month and above 4,200 for December.
“Analysts expect the Representative Market Rate for July to be between $4,365 and $4,546 with $4,495 as the median response. Likewise, they foresee a TRM of $4,200 to December 2022″, said Fedesarrollo in its report.
These results show a clear upward trend, since by June, the experts’ expectations were between 3,846 and 3,976 pesos with 3,885 pesos as the median response.
Likewise, they foresee a TRM of 3,820 pesos as of December 2022. However, we will have to wait for what may happen in the following weeks and the reactions that occur in the United States and Europe.
Requests for unemployment benefits increase in the US.
The weekly registrations to the Unemployment benefits increased again last week in the United States, to its highest level since November, despite persistent difficulties for employers to find labor.
Between July 10 and 16, 251,000 people filed for unemployment benefits, 7,000 more than the previous week, according to Labor Department data released Thursday. The figure exceeds the 240,000 orders expected by economists.
In total, about 1.4 million people received some type of unemployment aid in the week from July 3 to 9, 51,000 more people than the previous week.
This increase is not “significant”, pointed out Ian Shepherdson, from Pantheon Macroeconomics, who points out that the figures are “misleading” due to the annual closures of the production lines of the car manufacturers, “which poses problems for the seasonal adjustment (from the data), as the timing and duration of these closures vary each year.”
*With information from AFP.