Colombia’s Central Bank will not intervene to halt the appreciation
of the peso against the dollar for now, the country’s Finance Minister
has said.
Colombia’s exporters had asked the Central Bank to massively buy dollars to lower the price of pesos. They say the expensive peso is harming exports.
According to Finance Minister Oscar Ivan Zuluaga, the problem is not the peso, but the dollar that has seen an equally sharp drop in value against other currencies.
Zuluaga added that the peso dropped in value on Friday, showing that the tendency of the dollar is not constant.