Colombia’s central bank announced it bought $419.9 million in foreign currency during March 2012.
The central bank has now bought almost $780 million in foreign currency in 2012 through daily auctions.
During the first nine months of 2011, the central bank was buying at least $20 million per day in the exchange market, which had the effect of depreciating the peso. But during the first three months of 2012 the peso has begun to appreciate again due to uncertainty surrounding the European economy.
The central bank resumed its initiative of daily foreign exchange purchases of at least $20 million on February 6 which it will continue until August 2012.
Colombia Reports relies on your financial support. Please become our patron and support independent reporting from Colombia.