Price of the dollar today Friday, June 21, 2019 | economy



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At the end of this Friday's session, the dollar in Colombia lost 11 pesos against the TRM currently set at 3,212 pesos and was traded at an average price of 3,191 pesos.

For the first time since April 25, the US currency was traded below the psychological level of $ 3,200.

As of that date, its price has recovered and was still above $ 3,300.

However, in recent days, the trend has changed and this week the foreign currency added losses of 80 pesos.

The decision of the Bank of the Republic to prevent the increase of international reserves had the expected effect on the local exchange rate, once it reached the expected stability.

For analyst Alexander Rios of Strategic Consulting, The main cause of this third consecutive week of decline in the local exchange rate is attributed to the geopolitical tensions, not neglecting the commercial ones, which face the United States and Iran, the latter a key country in the Strait of Hormuz, one of the main countries of the world. major oil routes to the Middle East.

These tensions pressed the price of oil again, injecting pressure on the Colombian exchange rate.

On the other hand, the Fed's decision to keep rates unchanged and maintain a "loose" position in the future of interest rates weakened the global dollar during the week and rekindled, At least in the short term, the interest in risky assets of emerging countries like Colombia.

Likewise, the future volatility of the local exchange rate will be subject to the conclusions of the next G20 summit on issues such as global economic growth and the effects of the global slowdown, which will be another issue to be discussed, given the new and high likelihood of cuts in US rates as a benchmark for other central banks.

The WTI Reference Oil finally stays close to the $ 50 to $ 55 range that seems to be the goal to consider. The commodity adjusts two weeks of some stability around $ 55 a barrel, this weakness in oil is mainly due to trade tensions and its effect on global economic growth.

PROGNOSIS

Since the strategic forecast is now in the range between 3210 and 3260 pesos per dollar as a ceiling for next week, but if tensions persist, once again the upward pressures raise the local currency to levels above 3300 pesos. In case of exchange rate corrections, the 3180 pesos will be the amount to be considered as floor for the next week.

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