The dollar closed at an average of $3,785, down $13 against the benchmark rate.

The dollar closed at an average of $3,785.66, which represents a drop of $13.24 compared to the Representative Market Rate (TRM) of $3,798.9 for today’s session.

The opening price recorded by the Set-FX platform was $3,770.10, with a high of $3,800 and a low of $3,760.20. During the day, $837 million was negotiated with 1,472 transactions.

“We see the Colombian peso jump high at $3,817 despite yesterday’s bounce. It fell to $3,775 and closed below $3,790, looking down the Colombian peso, trying to break $3,790, trying to find $3,760. This is the next strong support Under $3,750,” explained Juan Eduardo Nates, senior currency partner at Credicorp Capital.

Internationally, U.S. futures rose on Friday as investors assessed the economic risks from the Fed’s tightening of monetary policy and Russia’s war in Ukraine. Yields on 10-year Treasuries are falling, the Bloomberg Dollar Index is falling, and emerging market currencies are rising.

Oil slumped on Friday as supply concerns eased after a partial resumption of exports from Kazakhstan’s CPC crude terminal, while the European Union remained divided over whether to impose a crude embargo on Russia.

The price of Brent oil, a benchmark for Colombia, fell 1.25% to $117.54 a barrel; West Texas Intermediate (WTI) fell 1.44% to US$110.72.

After the announcement of the formula of Gustavo Petro’s vice president in Colombia, all eyes are on who will accompany right-wing candidate Federico “Fico” Gutiérrez. The announcement is expected today.

According to a statement from the Ministry of Finance, the government has launched a project aimed at improving access to financing mechanisms for different sectors of the population, including loans for the highly informal population and loans for small and medium-sized agricultural producers. It also aims to promote access to the capital market.

Source: Lare Publica

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