Monday, June 5, 2023

The Colombian dollar on March 22, under $ 4,800. he was quoted

This Wednesday, in the midst of the expected decision of the United States of America on raising interest rates, the dollar registered a downward trend in trading on March 22. After a full week with the representative market rate above $4,800, it fell again.

At the end of the day, the US currency closed at $4,776, with an average price of $4,804, according to the Colombian Financial Superintendence.

Oil, on its part, is recovering from a sharp drop caused by market instability. The benchmark Brent barrel reached US$75.61, while WTI is close to US$69.93.

In Context: US Federal Reserve Raises Interest Rates to 0.25%

The influence of the decision on the markets Hed

The market was anxiously waiting for the announcement of the United States Federal Reserve on a new increase in its interest rates, in the middle of the banking crisis that the country is going through, closing for the next three weeks, including the Silicon giant. Valley Bank, which generated distrust in the financial system and caused effects on other economies around the world.

This policy depends on calming down the investors and was the compelling reason for H to withdraw from his firm in the last announcements, when he warned that at least this year he would not cut the financial transactions with his mints. and try to control the growth. However, this was a milder tone on Wednesday and, when profits were increased by 25 percentage points, they soon stopped.

He was under pressure because the fall of these banks was mainly due to the rapid and strong rate of growth, which reduced the value of the assets of these institutions.

Read: The resounding collapse of Silicon Valley and Credit Suisse: what’s going on in the world of credit?

After H was announced, the New York market fell sharply at the end of the session. As the day progressed, indexes fell minutes before closing: the Dow Jones finally lost 1.63%, the Nasdaq technology 1.60% and the S&P 500 1.65%.

World Nation News Desk
World Nation News Desk
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