The dollar experienced a surge on Friday, heading towards it’s most significant weekly increase in over a month. This was largely attributed to the uncertainty surrounding the war in the Middle East and its potential impact on the global economy, driving demand for safer investment options.

In Colombia, the peso closed at $4,080.13, a slight decrease compared to the market’s representative rate (TRM) of $4,076.32. The day saw a minimum price of $4,055 and a maximum of $4,100.85.

There were 2,264 operations totaling US $1,328.9 million.

According to a report by the Signing and Securities Firm, The colombian peso operated yesterday in Next-Day mode per holiday in the US in the $ 4,083 zone, which represented a $ 14 rise in front of the Wednesday spot of $ 4,069.

The SET-FX system reported that USD $363 million were traded in 266 operations, with an average price of $4,082, exceeding the current TRM of $4,076. “This rebound reflects a moderate adjustment of the exchange rate, in line with regional and global movements, in a context of geopolitical tensions and monetary policy expectations in the US.” The report stated.

Oil Price Movements

This rebound reflects a moderate adjustment of the exchange rate, in line with regional and global movements…

Oil prices experienced a decline on Friday but remained on track for a third consecutive week of gains. This comes after E The White House delayed a decision on the involvement of the United States in the conflict between Israel and Iran.

Brent crude futures fell US $ 1.89, or 2.4%, to US $ 76.96 a barrel. Despite the daily drop, they are projected to increase by nearly 4% for the week.

The American crude West Texas Intermediate for July that was not settled on Thursday because it was a festive in the United States and expires on Friday- 82 cents, or 1.1%, at US $ 75.96.The most liquid in August rose around 0.4%, or 27 cents, to US $ 73.77.

On Thursday,prices rose almost 3% after Israel bombed nuclear objectives in iran,while iran -tercer producer of the OPEC – fired missiles and planes not manned against Israel. Neither party has indicated any intention to de-escalate the week-long conflict.