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Dollar closes this Friday over 3,300 pesos – Financial sector – economy

After the constant escalations and failures in the exchange rates of recent weeks, the average price with which the dollar was agreed in Colombia was over 3,313 pesos, one of the highest prices ever recorded this year.

A course at these levels was not observed as of March 1, 2016 when the official dollar for that day amounted to 3,319.8 pesos, according to the statistics of the Bank of the Republic.

Market analysts assumed that soon the exchange rate in the country would reach that level and that I would not be surprised that the cost of the currency kept up the trend to reach levels of 3,400 pesos per dollar.

In fact, the maximum trading rate that was achieved nowadays was 3,321.99 pesos.

The growth observed in the exchange rate occurred in the middle of the unstable day of the oil market that started the day with strong spikes, but by the end of the afternoon it was deflated.

Oil closed down Friday on fears of a slowdown in the Chinese-US negotiations, but the two deals closed Sunday higher due to concerns about a cut in supply in the Middle East over political tensions.

Brent International futures fell 0.6 percent to $ 72.21 a barrel, but rose 2 percent during the week.

Futures of the US company West West Intermediate (WTI) fell 0.17 percent to 62.76 dollars per barrel.

The senior commander of the Iranian Corps of the Revolutionary Guards said short-range missiles to their country They could reach US ships in the Persian Gulf and pointed out that Washington could not afford a new war, the semi-official Fars news agency reported.

US sanctions on Iran further reduced the country's exports in May, adding cuts approved by the OPEC and its allies sealed by the Pact.

On the other hand, China used a more aggressive tone on Friday in its trade war with the United States and suggested that negotiations between the two largest economies in the world continue, it would not make sense if Washington did not change the course.

The market is awaiting the decision by the Organization of Exporting Countries
The oil and the group of allied producers on whether to continue the decline in the supply, which so far have led to prices by more than 30% this year.

The OPEC ministerial committee this weekend will meet in Saudi Arabia, which will assess the commitment of the member states to the agreement and could issue a recommendation on whether to extend or adjust the agreement.

* With information from agencies

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