Loading…
Colombia's central bank governor Juan Jose Echavarria said the bank will not intervene in currency markets even if the peso weakens by 10 to 15 percent. He also said he does not expect to raise interest rates this year or next.
The peso has been hit as the dollar strengthened and emerging-market currencies such as Turkey's lira and Argentina's peso came under pressure.
With no central bank defense of the peso, further depreciation is more likely, which keeps imported feed and input costs elevated for Colombian buyers.
colombiareports.comMegan JanetskySep 4, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
