October 28, 2020

The dollar breaks the 4,000-peso barrier for the first time in Colombia

The global volatility due to the economic impact of the coronavirus shook Colombian markets where it opened for the first time the dollar hit the 4,000 peso mark for the first time and the stock market opened with a drop of more than 4%.

In the currency market, the greenback opened today at 4,030 pesos, with an increase of 3.5% compared to Wednesday’s closing rate of 3,892.25 Colombian pesos.

In the first negotiations, the dollar rose to 4,040 pesos, but then stepped on the brakes and traded slightly below the psychological barrier of 4,000 pesos, to 3,995.

The volatility of the Colombian markets was exacerbated by today’s collapse of international stock markets and the price of crude oil after the announcement by US President Donald Trump to ban flights from Europe to his country, with the exception of those in the United Kingdom. , to contain the COVID-19 pandemic.

In the Colombian Stock Exchange, the Colcap index lost 6.07% in the first operations and fell to 1,216.77 points.

As a consequence of the international panorama, the shares of the state oil company Ecopetrol lost 10.54% and those of Cementos Argos left 4.97% of their value.


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