... in response to Colombian Peso @ 2652 per dollar ! , posted by Nico on Aug 6, 2002My wife just got back yesterday from Cali.She got 2614 pesos/dollar at an ATM sunday.I had heard you get 97 % of the official rate but it seems a little better than that.I asked her if she thought prices had gone up.She said no.
Prices of imported things will have to go up because the peso will buy less but maybe they are still selling old inventory.
This is at a time when the dollar is declining against other currencies.If you live in Europe the peso probably got even cheaper.
A declining currency is not all bad,you buy less,sell more.
I remember Mexico a few years back when their peso took a dive.In the tourist areas the prices just went up as the peso went down.They knew what the market would bear in dollar cost.In Colombia we are dealing more with the local economy.Most places we go are not highly patronized by tourists.
Pete
