The exchange rate lost more than $ 100 during the week.
The dollar in Colombia ended the week with a sharp fall: this Friday it fell $ 49 and closed at $ 3,609. In this way, the exchange rate accumulated a loss of more than $ 100 during the week.
This Friday’s fall occurs within the framework of a sharp decline in yields on US 10-year treasury bonds, securities began the day falling more than 3%.
There were also reports that increase optimism about the US economy: this Friday the Labor Department revealed that 559,000 jobs were created in May and the unemployment rate fell to 5.8%.
Despite the fact that in recent weeks there have been news of high impact for the Colombian economy, such as the withdrawal of the tax reform or the loss of investment grade on the Standard & Poor’s scale, purchases of Colombian debt continue with good behavior.
In April and May, months in which the reform falls, the minister is removed, we have demonstrations and we lose the grade. Foreigners bought 8 BN in TES. The equivalent of a tax reform at the highest bi-monthly rate. There are people out there who just hope we scare each other. pic.twitter.com/rfUgdrANiY
– Felipe Campos (@FelipeCamposPC) June 3, 2021
Meanwhile, the country is still waiting to learn about the new tax reform that the Government is building through consensus. For now, it is known that it would have a collection goal of $ 14 billion, and that businessmen reported their willingness to pay more taxes to prevent citizens from being taxed more.
