The recent appreciation in the Colombian peso is raising concerns in
the government, though no measures are planned so far, Finance Minister
Oscar Ivan Zuluaga said Wednesday.
Despite the recent appreciation of the peso, which has gained 29%
against the dollar since March, the average exchange rate in 2009 is
still weaker than at the end of 2008, Zuluaga told reporters.
The government is concerned the strong peso may make production more expensive in Colombia than in other countries.
The peso has appreciated 12% so far this year to 2,019 Colombian
pesos to the dollar. Zuluaga said the average exchange rate in 2009
still stands at around COP2,300. (Dow Jones)