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Dollar in Colombia Bounces Back After Previous Decline: Market Update

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Dollar in Colombia Bounces Back After Previous Decline: Market Update

After a 25 peso drop the day gone by, the greenback in Colombia bounced again on Wednesday, May 29, recording beneficial properties within the session. According to the Stock Exchange (BVC), the US foreign money closed at a median value of $3,865, representing a rise of 14 pesos in comparison with the TRM of the day, which was $3,853.

In different foreign money baskets, the euro depreciated by 0.20% towards the greenback, buying and selling at $1.08 per euro, whereas the pound sterling misplaced 0.22% towards the greenback, buying and selling at $1.27 per pound.

The market is eagerly awaiting US inflation knowledge, resulting in a decrease opening on the New York Stock Exchange on Wednesday as buyers are involved about the opportunity of excessive rates of interest persisting. In the primary operations, the Dow Jones index misplaced 0.80%, the Nasdaq know-how index misplaced 0.76%, and the S&P 500 fell 0.76%.

On Tuesday, Wall Street ended with blended outcomes, with know-how companies driving the Nasdaq index to new highs. The Nasdaq surpassed 17,000 factors for the primary time, breaking a brand new report after the one set on Friday.

This comes amid the continuing strike on the Mintrabajo, which is about to start on Friday, affecting numerous providers. Overall, the monetary market in Colombia and globally continues to be influenced by key financial indicators and occasions.

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