Although the currency started falling, it ended the session rising. This is the first day of the week to close higher.
This Thursday the exchange rate registered significant volatility: although the session started falling, in the end it rose $ 10 and closed at $ 3,661. This is the first day of the week that ends on the rise.
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Despite the fluctuations, the exchange rate is already at the levels of mid-April 2021. Which means that the dollar has overcome the uncertainty that arose in it in recent weeks due to the national strike, the withdrawal of the tax reform and the loss of investment grade on the Standard & Poor’s scale.
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
In fact, despite high-caliber news, Colombian debt purchases have performed well in the last couple of months.
However, it is expected that in the coming weeks the exchange rate will continue to reflect the uncertainty about the Colombian fiscal situation: correcting a deficit of $ 90 billion is the challenge. What increases the expectation for the new tax reform that the Government is building through consensus, and that for now has a collection goal of $ 14 billion: almost $ 10 billion less than the previous reform.
The fall in the dollar during most of the week was due to the rise in international oil prices: Brent exceeded US $ 70 as OPEC + confirmed its plan to gradually increase production.
