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Dollar squeezes $ 3,300 this Wednesday and makes peso the third most devalued currency



May 8, 2019 – 08:57



Per:

Colprensa / The Republic

At 8:00 am on Thursday, the dollar started its day at an average price of US $ 3,299.75 and registered a partial increase of US $ 10.94 compared to the Representative Market Rate (TRM), which will be US $ 3,288. 81

The opening of the coin was US $ 3,300 and in the first minutes of the day 16 transactions were performed for a value of more than US $ 4.5 million.

The increase of US $ 10.94 makes the Colombian peso the third most devalued currency in the world, after the Turkish lira and the Argentine peso.

On the international markets, the dollar showed a downward trend, due to the escalating trade dispute between the United States and China, which prompted investors to raise expectations that the Federal Reserve would lower interest rates this year. .

While in times of trade tensions the dollar benefited, President Donald Trump's threat of raising tariffs on Chinese products has led some strategists to focus on the corrosive impact in Washington.

The United States will raise tariffs for imported Chinese goods worth $ 200 billion, from 10 percent to 25 percent, the official newspaper said on Wednesday, a move that deepens the trade war between the two countries.

Read also: "Positive expectations remain for the national economy".

In terms of oil prices, the WTI benchmark rose 0.21% to $ 61.53, while Brent fell 0.31% to $ 69.66.


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