New escalation, dollar is trading at $ 4,230
The dollar registered another historical escalation, reaching 4,230 pesos. This represents an increase of more than 100 pesos in the Representative Market Rate.
This is due to the increasingly pronounced drop in oil prices, which since Wednesday has been trading above 25 dollars, in the Brent reference.
The drop in oil prices is mainly due to the economic impacts of the coronavirus in the world, in addition to the price war between Saudi Arabia and Russia.
From his Twitter account, the economist Jorge Restrepo explained that the increase in the dollar is “in line with the devaluation of many other currencies against the dollar, such as the British pound and the Norwegian krone, in a flight to the dollar.
With this dynamic in the exchange rate, there is expectation in the Colombian Stock Exchange, which has had to suspend operations several times throughout the week.