Economy 28-11-2018

Colombian peso registers higher fall against dollar since February 2016

The Colombian peso registered its biggest depreciation against the dollar since February 2016 as a result of uncertainty in international oil prices.

The US currency advanced at an average price of 3,251 pesos, that is, it rose 11 units compared to the Market Representative Rate (TRM, or Colombian peso value paid for each dollar) of 3,240.65 pesos on Tuesday, reported the Colombian stock exchange.

The minimum price of the dollar was 3,228 pesos and the maximum of 3,266 pesos during November 27, in which 1,350 million dollars were negotiated in 2,450 transactions.

Although the behavior of oil was stable during the day as a result of the record levels reached by Saudi production, markets are waiting for the meetings of the Group of 20 emerging countries and the Organization of Petroleum Producing Countries, which will take out in the next ten days.

Important announcements are expected on the future of world crude production.

SPUTNIK

 
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