Colombian Peso now at 2824 to the dollar

[Nico]

By comparison the peso was at about 2200-2300 when I was there this past December; a change of 21-27% in 10 months ; Thats a major currency fluctuation if I ever seen one though not as bad as the Argentine Peso going from 1:1 to 3.5 to 1 nearly overnight

[Kit]

... in response to Colombian Peso now at 2824 to the dollar, posted by Nico on Oct 7, 2002

I think currency traders are very uncertain about Uribe's policies. Higher taxes and an absence of a definitive economical plan cause economists to worry and therefore sell pesos, perceiving low demand.

Arg peso is a whole different story. Pegging the local currency may work in a small country, but in rather large Argentinian economy it was destined to happen.

[thesearch]

... in response to Re: Colombian Peso now at 2824 to the do..., posted by Kit on Oct 7, 2002

Kit,

Do you have any comments about the Brazilian currency?

[Nico]

... in response to Re: Colombian Peso now at 2824 to the do..., posted by Kit on Oct 7, 2002

The peso is also down in Mexico. Its at 10.2 to 1. I think last summer it was at about 8.something to 1