The Colombian peso’s recent appreciation is a result of the good
conditions abroad, though the government is concerned about its effect
on exporters, Finance Minister Oscar Ivan Zuluaga said Tuesday.
The peso strength “is the product of a stability of external
conditions. It is a good sign. During the past weeks, news was positive
and made investors eager to buy riskier non-dollar assets,” Zuluaga
said.
He added the strong peso is a concern for the government because of its consequences for the country’s exporters.
The Colombian peso has appreciated 27% in the past three months to
hit 2,063 Colombian pesos to the dollar Tuesday, its strongest level
since Sept. 22. (Dow Jones)
