Colombia's central bank says it will not intervene as peso weakens

Posted by On 10:45 PM

Colombia's central bank says it will not intervene as peso weakens

Colombia’s central bank has ruled out the prospect of it making any intervention if the peso continues to weaken, reported Reuters on Tuesday.

Juan Jose Echavarria, governor of Colombia’s central bank, said if the peso deprecates by even 10 to 15 percent, the bank wont intervene.

As the dollar has strengthened with the help of the United States Federal Reserve, the Colombian peso was among a handful of emerging currencies that have taken a hit, though currencies in Mexico, Argentina, Turkey and South Africa felt a much sharper drop.

Source: Google News Colombia | Netizen 24 Colombia

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