The dollar closed this Monday with low volatility. It maintained an upward trend throughout the day, hurting imported products and the pockets of Colombian consumers who trade in the currency.
Today, October 21, the currency closed at $4,275 on the stock market. This represents a reduction of $23 compared to the current representative market rate (TRM) of $4,252 as defined by Superfinan Sierra.
This is the change in the dollar price as of October 21st closing price. |Photo: Capture: BVC
In the face of currency volatility, it has recorded fairly low price movements. The highest price recorded for the day was $4,299 and the lowest price recorded at the close was $4,274. The estimated average is $4,287.
In terms of negotiations, today’s currency trading volume was 922.71 million. Average volume was 555.51.
How will the economy behave this October 21st?
The New York stock market began lower on Monday after a series of records, which some experts said was due to the closeness of the US presidential election, and a rise in bond yields.
In early trading, the Dow Jones fell 0.12%, the tech-heavy Nasdaq fell 0.18% and the expanded S&P 500 index fell 0.13%.
The U.S. budget deficit rose from 6.2% in 2023 to 6.4% in 2024, as additional tax revenues at low interest rates were unable to offset increased debt service costs.
This was announced this Friday, less than three weeks until the November 5th election, between Democratic candidate and Vice President Joe Biden’s Vice President Kamala Harris and former Republican President Donald Trump.
The dollar is one of the most important currencies in the world economy. |Photo: Getty Images
European stock markets closed lower on Monday on a quiet day ahead of many companies reporting their third quarter results.
The Paris market fell by 1.01%, the Frankfurt market by 1%, the London market by 0.48%, and the Madrid and Milan markets by 0.71%.
The European Central Bank (ECB) on Thursday cut its policy rate again by 25 basis points, from 3.50% to 3.25%, in a bid to boost the euro zone’s weak economic growth, which has kept inflation in check.
“The latest information on inflation shows that the deinflation process continues as planned,” the Frankfurt-based ECB said in a statement.
“The outlook for inflation is also influenced by downward expectations for recent indicators of economic activity,” added the euro zone issuer, which comprises 20 of the 27 countries of the European Union.
This is the second consecutive cut in the ECB’s benchmark interest rate, having already carried out a similar cut in September, and the third time this year that the ECB has cut its benchmark interest rate by a similar percentage, following June.
ECB President Christine Lagarde said after the announcement that the eurozone’s economic growth outlook was “downward” and that “a decline in confidence could hinder growth.”
In Colombia and several other countries around the world, the dollar is strictly tied to oil prices. |Photo: Getty Images
