How expensive will the dollar be in Colombia at the end of 2020 – Financial Sector – Economy


The probability that the price of the dollar in Colombia will approach the maximums seen last March – about 4,154 pesos – when the arrival of covid-19 in the country became evident, are quite high, since several factors gravitate on the currency. They will exert strong pressure for the remainder of this year and perhaps also for the first part of 2021.

The closing of the elections in the United States, the reappearance of contagions of the covid-19 after the reopening of the economies in the world, the deficit in the current account and the ability to maintain the investment grade are counted, in the opinion of some analysts consulted, among the main forces that the currency will face in the last part of this year.

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The cost of the dollar in the Colombian market this week completed eight consecutive days on the rise, which have the representative market rate (TRM) above 3,873.8 pesos, a level that had not been seen for four months when for a single dollar it was it paid 3,926 pesos in the country, according to records from the Banco de la República.

In these last eight days the US currency has become more expensive by about 177 pesos and is located at just 126 of the 4,000 pesos, a level that was reached for the first time this year on March 13, so if this behavior continues, soon it would be back in that range that market analysts estimate.

“We have an expectation of the dollar by the end of the year close to 3,900 pesos,” says Felipe Campos, manager of Economic Research at Alianza Valores, for whom, although the United States elections and the re-outbreak of covid-19 will play a role Important, then a period of calm will come towards November, but that depends on who is the winner in the US electoral contest.

(Also: Dollar surpassed $ 3,800 this Monday)

“If Trump (Donald) wins it is possible that the dollar will calm down, but if the victory is for Biden (Joe), given that the Democratic candidate has proposed some measures against Wall Street, the pressure on the dollar will remain in the what remains of the year ”, the analyst specifies.

The weight of crude

But this is just one of the factors that haunt the greenback. For Munir Jalil, BTG Pactual chief economist for the Andean region, “what ends up happening with the oil market and its trend towards the end of the year will set the direction the dollar will have at the end of 2020.”

That is why his exchange bet points to an exchange rate of 3,750 pesos at the end of the year.

For now the prices of a barrel of oil remain above 40 dollars. The WTI, very close to 40.5 dollars, while the Brent, the main reference for Colombia, is around 42 dollars.

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The behavior of this important raw material for the world will also depend on the evolution of the pandemic itself.

Juan David Ballén, Director of Analysis and Strategy at Casa de Bolsa, is one of those who believes that the dollar will remain strong, precisely because everything indicates that the number of infections with covid-19 will skyrocket, as is already the case in some countries of Europe.

“The WHO (World Health Organization) estimates that it is possible that by the end of this year the number of COVID-19 infections will rise again due to the lifting of the confinements, which would affect the recovery that the economies and the oil, ”says the expert, who warns that we must be open to a dollar, again, at 4,000 pesos or slightly above that value.

Internal factors

But not all the pressures that the exchange rate will have in the coming months come from abroad. Internally, there are elements that will help define the trend of this currency in the short and medium terms.

“I believe that both the current account and the capital account will generate moderate pressure,” says Andrés Langebaek, executive director of Economic Studies at Grupo Bolívar.

He explains that with the expected rebound in the economy there will be pressure on the exchange rate, to the extent that the demand for imports will grow, while the supply of dollars for exports will not be able to do so at the same rate.

(We suggest: Debtor support measures have contained the deterioration of the portfolio)

“The projections of oil prices, although better, (close to 49 dollars in the Brent reference for 2021), would not be enough to generate a great dynamism in exports,” he adds.

The expected on the side of the capital account is not more encouraging. Langebaek says the country is no longer very attractive to foreign investors and this passes a significant collection account to the economy.

“Although there is the possibility that some income will be registered due to the entry of Colombia to the Barclays indices, I think that the uncertainty about the ability to maintain the investment grade and the drop in potential GDP would generate less investment flows both direct as well as indirect ”, considers the analyst.

Although under the current circumstances of unemployment, economic crisis and, especially, a pandemic, a more expensive dollar will not keep Colombians up late this year, because they will not go out en masse to vacation, it is clear that in the medium term a high exchange rate brings its negative consequences for the economy in general.

Munir Jalil, from BTG Pactual, believes that in 2021, the price of the US currency “will be marked by its strength / weakness with respect to so-called strong currencies such as the euro, the price of oil and by local factors such as our current account deficit and sovereign risk ”.

For his part, Felipe Campos, from Alianza Valores, maintains that after the exchange rate calm at the end of 2020, there will be a second upward phase in the exchange rate between January and May 2021 because inflation will rebound at the beginning of that year . “After this shock, we see that the dollar will calm down and return to land of 3,600 pesos and continue its downward trend looking for 3,300 pesos in the second half of next year.”

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CARLOS ARTURO GARCÍA M.
On Twitter: @ CarlosGarciaM66
artgar@eltiempo.com

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Fast and Furious: They sell the Mustang that Vin Diesel used in the last movie

It is estimated that the auto It will sell for about $ 75,000.

Mustang Match 1.jpg

It’s about a Ford Mustang Mach 1, belonging to Vin Diesel, which was used for the filming of Fast and Furious 9 and also the spin off Hobbs & Shaw.

Manufactured in 1971, it is one of the most recognized models in the history of the American brand. The car after being used was taken to an official workshop in Los Angeles for restoration.

“Anyone who drives this car will notice that it starts, feels, drives and smells like it just left the dealership. Everything in terms of vinyls, parts, stickers and details was carried out at the Ford dealer to achieve a very complete and correct restoration ”, describes the vehicle’s sale notice.

The work carried out by those responsible for the workshop shows how the Ford Mustang of Fast and Furious It was impeccable and as if it had just left the factory. It was sought to preserve every detail to keep all the original details.

Mustang Match 1.jpg

It is a Ford Mustang Mach 1, belonging to Vin Diesel, which was used for the filming of Fast and Furious 9 and also the spin off Hobbs & Shaw.

It’s about a Ford Mustang Mach 1, belonging to Vin Diesel, which was used for the filming of Fast and Furious 9 and also the spin off Hobbs & Shaw.

As seen in the photos, the green color, with black details, has inside the seats that have a red color, which combine the door panels and the dashboard.

The mechanics are made up of a V8 Cobra Jet 429 naturally aspirated engine with 7.0 liters of 375 horsepower and 610 Nm of maximum torque.

“The wiring, the air conditioning and all the little details are changed and are working properly. A beautiful car by any standard and an excellent representation of the 71 ″ Mustang Mach 1, the ad highlights.

FAST AND FURIOUS 9 Trailer (2020).mp4

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Freixenet closed in 2019 the best year of the last decade | Companies

The Freixenet group closed last year with significant growth in its profit figures. According to the balance sheet of the Catalan cava and wine manufacturer, the activity of its operations reported a total of 12.4 million euros of net profit, which the shareholders decided to fully increase their reserves.

The figure represents an important growth compared to the positive results it reaped in 2018, which the same document cited, figures at 7.9 million euros. And all this with global revenues in 2019 of 170 million euros, compared to the 147.1 million that the company managed to achieve in 2018.

According to the Catalan firm’s report, the figures for one year and the other are not comparable because in 2018 the company decided to change the year-end of the companies that make up the Freixenet group from April 30 to December 31, by which compares an eight-month exercise with another 12. However, the company assures that both operating results and profit before taxes “have been the best in the company in the last decade.” This circumstance was undoubtedly helped by the fact that in that year the company decided to divest itself, in May 2019, of the companies Solar Viejo, Valdubón and Freixenet Argentina, which were sold to one of the company’s shareholders (Grupo Ferrer Miranda ), which paid a total of 16.8 million euros, an operation that generated a profit of 3.5 million euros.

The company ensures that the sale on July 31, 2018 of 51% of Freixenet to the German group Henkell, “has had an impact on society at all levels.” Thus, it acknowledges that during the year a profound process of simplification of the company’s structure was carried out, merging by absorption several subsidiaries of the group with a low level of activity. And also culminating “the 50% joint venture process with Henkell’s company in the US, Mioneto.”

The company admits, of course, that it has a serious problem with the payment term to its suppliers, which amounts to 73.8 days on average, clearly above the legal limit set by law. Therefore, the company ensures that it is preparing to implement corrective measures and a tighter payment system to be able to comply with the law.

Like many of the companies, the Freixenet board recognizes that it is “extremely difficult to predict the effects derived from Covid-19 for the current financial year 2020.” And it reveals that its central strategy is “to guarantee the supply of the markets to the maximum and to maximize the reduction of spending items”.

To achieve this, the situation has made it necessary to reduce work shifts and to focus the activity on bottling and dispatch of finished products in order to continue supplying the markets and not lose the next Christmas season.

No adjustments derived from the pandemic

Freixenet administrators estimate that the pandemic “will not affect business continuity” and it will not be necessary to “adjust any of the annual accounts”. And the company argues it by explaining the work cycle of its model: “Due to the seasonality of sales, the company has a flexible labor system in which fewer hours are worked from March to June and then recovered in the peak months. activity, starting with the harvest and the Christmas campaign ”. Thus, Freixenet assures that in the months of strong impact of the Covid half of its workforce was on vacation and the other working three days a week, “so most of the activity has been carried out.”

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24H on GAMERGEN.COM: Xbox Series X launch, The Last of Us Part II patch, and Halo Infinite delayed

The 24h on GAMERGEN.COM is a daily section allowing you to review the main news of the last 24 hours. What happened on Tuesday, August 11, 2020?

Without warning, Microsoft announced one month launch for Xbox Series X. Next to that, The Last of Us Part II will be entitled to an update 1.05, and following feedback from players, 343 Industries made the decision to postpone the release of Halo Infinite.

FIFA 21 11 08 2020 FUT Ultimate Team Icons Czech

In the rest of the news, old DualShock 4 are back on the shelves, Call of Duty 2020 could be revealed soon, the Xbox Game Pass Ultimate is available in beta on Android, we looked at the latest in fashion FIFA Ultimate Team of FIFA 21, Oceanhorn 2: Knights of the Lost Realm was announced on Switch, DIRT 5 have been reported, and the sales figures of Detroit: Become Human increased.

Finally, don’t forget to throw an eye on the current discounts on the Xbox Live.

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Travel abroad: the latest changes to know before you go

Several regions are changing the conditions of access to their territory.

LBelgians and people who have stayed in Belgium during the last two weeks will no longer be admitted to Finnish territory from Monday 10 August, Foreign Affairs reminded this Friday. It should also be noted that traveling from Belgium to the United Kingdom implies, from Saturday, to respect a quarantine.

From Saturday, travelers from Belgium and going to England, Scotland or Northern Ireland will have to respect a quarantine. This rule applies as of this Friday for Wales. Those affected will have to self-isolate for a period of 14 days upon arrival. They also have the obligation to report to the authorities using a form.

In addition, travel to the Aberdeen area of ​​Scotland is no longer permitted, as was the case for Leicester.

Finland does allow business travel and family visits, however, subject to a 14-day quarantine once in the country. Students and permanent residents in Finland are also allowed to go there under the same conditions.

In the direction of returns, the Belgian authorities no longer recommend quarantine and / or screening test for travelers returning from Wales. In the UK, only the regions of East Midlands, North and East Yorkshire and North West are affected by this measure.

Local measures are detailed on the site www.diplomatie.belgium.be.

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In Cremona 15 babies were born in 24 hours, reco – Last hour

(ANSA) – CREMONA, JUNE 29 – Within 24 hours, from 15 on Friday to 15 on Saturday, 15 children, 10 girls and 5 boys were born at the Maggiore hospital in Cremona, including twins. An exceptional event that occurs after the dark days of the Coronavirus emergency that the structure has faced since late February.

It is an “extraordinary” event and a “sign of rebirth” after the Covid emergency, they say from the obstetrics and gynecology department. The last of the newborns, altogether 10 girls and 5 boys, came to light in a hospital room in the same ward, obviously with the assistance of midwives and doctors, as there was no place in the delivery room.

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