Like the peso, Colombian dollar bonds also fell after the credit rating downgrade.
The exchange rate of the peso against the dollar registers an upward trend this Thursday, a day after Standard & Poor’s announcement to lower the risk rating and remove the investment grade from Colombia.
The dollar at the time of this publication was trading at $ 3,716.14, an increase of 0.87% after a previous close at $ 3,684.
Read for context: Colombia lost investment grade on the Standard & Poor’s scale
The euro also registered an increase of 0.97%, at $ 4,541, after a close the previous day of $ 4,497.
According to Davison Santana’s analysis for Bloomberg, the Colombian peso led losses among emerging market currencies on Thursday after S&P downgraded the sovereign rating to “junk.” “The Chilean peso also underperformed its peers, after China announced measures aimed at curbing the impact of raw materials on local inflation, which affects the outlook for copper prices,” says the published report. by Bloomberg.
The same agency reports that Colombian dollar bonds also fell after the downgrade in the credit rating. “US dollar-denominated bonds due 2031 fell 0.5% to 96.6 cents in early trading on Thursday in New York, sending their spread over US Treasuries to 1.85 percentage points” .
The Colcap index of the Colombian Stock Exchange fell 1.73% before noon. The TRM for the day today is $ 3,682.66.
Regarding international markets, the New York Stock Exchange rose this Thursday after the opening and after three sessions down: the Dow Jones advanced 0.18% to 33,955.50 points and the Nasdaq 1.16% to 13,454, 38 units.
Brent oil, the benchmark for Colombia, fell 0.92% to US $ 66.05, while a barrel of WTI crude lost 0.84% to US $ 62.83 before noon (Colombian time).
