There are different factors that influence the appreciation or fall of international currencies and their equivalence with other currenciess, such as macroeconomic events, the economic state of each country, its financial growth, as well as fluctuations in imports, exports and local monetary policies.
In that sense, the US dollar, which is one of the strongest currencies in the world and is most frequently used as a reference to determine the value of other local currencies, During the last few days it has trended downward. However, there have been no significant changes.; Well, this week started with a Representative Market Rate of $3,895.41 COP and stable behavior, so here We explain what the rate is for this May 7 and how this currency has behaved during the dayas well as other relevant currencies in the international market.
This is how the price of the dollar closed TODAY, May 7 in Colombia
This currency started the day on Tuesday, May 7, with a value below that established during the previous day; since an opening of $3,885 COP was set, a minimum value of $3,876.20 COP and closed with an equivalent of $3,888 COP.
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For its part, the representative market exchange rate (TRM) was established at $3,894.23 COP, which means a decrease with respect to that established last Monday, May 6; However, it has a difference of only 1.18 pesos. In turn, it should be noted that the latter is calculated based on the operations of the previous business day.
In turn, the Bank of the Republic indicates that the moving average of the price of the dollar during the last 20 days is $3,886.98 COP, presenting a devaluation for the full year of -14.46% and for the current year of 1.89%.
This is how the price of the euro and the pound sterling opened TODAY
On the one hand, the euro, which is the currency used by 20 of the 27 countries belonging to the European Union and which is another of the strongest currencies worldwide, started on the market this Tuesday, May 7, with a rate of $4,189.5 COP. However, it has shown a slight increase throughout the day, standing at 4,194.5 COPalthough it has not experienced significant changes in recent days, according to the average of the last few months of the ‘Investing’ portal, which reports on financial markets worldwide.
For its part, the equivalence of the pound sterling It is also important in terms of international trade, tourism and investment, as it is the currency officially used in the United Kingdom, one of the territories that does not require a visa for Colombians. In that sense, it started with an equivalent in Colombian pesos of $4,897. However, throughout the day a rate of $4,886.47 COPa figure that presents a low trend.
Brent and WTI oil price
Today’s trend is to fall:
- Brent Oil Barrel: This crude oil began the day with an opening price of $83.47 dollars and as the morning progressed, it decreased substantially until it stood at $82.87 dollars, with a maximum figure on May 7 of up to $82.53 dollars.
- WTI Oil Barrel: This May 7, it began with an opening rate of $78.81. However, as the hours passed, it decreased slightly to reach the $77.72 dollarsholding a daily high of $79.02.
