Armed conflict in Colombia displaced more than 180,000...
Forced displacement
Petro orders Colombia’s security forces to end ceasefire...
Central Colombia mining disaster kills 21, rescue attempts...
At least 11 dead, 10 missing after central...
Can Colombia afford excluding paramilitaries from peace process?
‘Ivan Mordisco’
Colombia’s ‘total war’ on illegal mining shuts down...
Petro announces peace process with Colombia’s dissident FARC...
Colombia’s government and ELN rebels revise peace talks...
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Peso strengthens on Santos’ economic plans

by Adriaan Alsema August 9, 2010
1.1k

Colombia news - one peso

Colombia’s peso gained against the dollar Monday, continuing a rally that has been boosted by optimism on the economic plans of President Juan Manuel Santos and the central bank’s halt of its dollar-buying program in the spot market.

The peso closed at COP1,808.49 compared with Friday’s rate of COP1,819.9.

Felipe Melo, a currency analyst with Alianza Valores, said that the market is awaiting details on whether the central bank will soon restart its dollar buying program in the spot market, a move which had helped tame the peso’s appreciation.

Investors and traders are “anxious to know if they (the central bank) will start to intervene soon,” Melo said.

The central bank confirmed Monday in a press release that it hadn’t carried any trades in the currency market in July.

In the first half of the year, the central bank bought $1.6 billion. The central bank’s chairman, Jose Dario Uribe, has said that the central bank could resume the dollar purchases at any moment.

The peso has also strengthened because of the planned market-friendly economic policies of Santos, who was sworn in Saturday. His administration has pledged to reduce the government fiscal deficit, which could help Colombia attain investment-grade status for its bonds.

The yield on Colombia’s benchmark 2020 bonds stood Monday at 7.220% from 7.218% on Friday. Colombia’s benchmark IGBC index, meanwhile, was mostly flat, rising 0.09% to close at 13,409 points. (Darcy Crowe / Dow Jones)

Colombia pesodollareconomy

Contribute

Trending

  • Central Colombia mining disaster kills 21, rescue attempts ended

  • Petro orders Colombia’s security forces to end ceasefire with AGC

For patrons

Downloads for patrons

Related articles

  • Colombia’s GDP and GNI

  • Inflation

  • Foreign trade

  • Twitter
  • Email
  • Rss

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion