Colombia’s peso continued a two-week appreciation run against the dollar on Tuesday following disappointing US job growth figures that lowered the value of the American currency against most its competitors.
The Colombian Peso (COP) continued it’s downward spiral reaching 2,060 pesos to one US Dollar Monday, according to radio station Caracol Radio.
Colombia’s finance minister said on Wednesday that he expects the US dollar to hit the 2,000 peso mark “soon” after a year-long slide during which the currency lost nearly 12%…
Colombia’s Finance Minister told local media Caracol Radio Wednesday that the peso is expected to weaken to $2,000 COP to $1 USD at any time.
Colombia’s industrial sector is receiving more than twice the amount of credit it did last year in an effort to stimulate dragging sales and exports.
As Colombia’s peso reaches the government’s target exchange rate against the dollar, the Andean country’s manufacturing contracted in output for the seventh time over an eight-month stretch.
Colombia’s currency weakened to 1,926 pesos to the dollar this week before sliding back down to 1,915 on Friday, according to currency reports.
Colombia’s peso changed course again on Friday, weakening to 1,901.3 to the dollar on after a surprise rally to a 2-month low of 1,872.91 last week.
Colombia’s Ministry of Finance on Friday announced that the country’s 2014 budget set is set to be $106 billion or COP199.9 trillion.