this Dollar continues to rise in Colombia and this Thursday morning it was negotiated from 4,657.4 pesos, 67.5 pesos above the historical record when it was negotiated on 12 July to 4,589.9 pesos.
On average, the US currency was trading at an average price of 4,637 pesos until 11pm. 88 pesos increase compared to the current market representative rate for this ThursdayIt stands at 4,548.89 pesos.
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Starting the day with a price of 4,585 pesos, according to the Set-Fx platform, the maximum price reached at 8:48 was 4,657.4 pesos.
the previous day, foreign currency it also registered a strong rise and erased the losses it had added between Monday and Tuesday at the beginning of the week.
(Interest: The capital tax raised by the petro finances the government itself: experts).
The currency’s rise this Thursday was recorded a day after President Gustavo Petro said the Bank of the Republic said raising interest rates didn’t work. control inflation.
According to the Colombian president, a temporary tax may be imposed on these flows if interest rates are raised to prevent capital flight.
Amid the dollar’s rally this Thursday morning, the peso, “with the dollar at all-time highs during the day, is leading the devaluation of regional currencies,” said Juan David Ballén, director of Analysis and Strategy at brokerage house Casa de Bolsa. Suggesting capital controls is a bad idea, it will create greater devaluation, inflation, rates and decline.“.
(Also: New items included in tax reform).
On Wednesday, former Finance Minister Mauricio Cárdenas wrote on his Twitter account: The issuer’s board “does not have the authority to accept taxes, what it does is make capital inflows or outflows more expensive through exchange measures.as a mandatory deposit”.
However, he also pointed out that a measure in this sense would be “suicide”. The stampede of capital will create more devaluation and more inflation”.
Munir Jalil, Chief Economist of the Andean Region at BTG Pactual, said: these investors will prefer other countries that do not have these restrictions and allow them to enter and exit freely.”.
(Keep reading: This is how the petro tax will affect gas prices and reserves).
According to Peter’s statements, “Tax reform for big fortunes” is better to contain inflationfertilizer subsidies, agrarian reform, change in formula for food and energy ratio in poor neighborhoods”.
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Source: Exame
