Get ready to rumble. Colombia is stepping up the fight against the appreciation of its currency, the peso.
Having spent nearly $5bn last year buying dollars to stem the peso’s rise, the government this week said it was willing to deploy double the amount – or $10bn – this year keep the currency in check. Read more
Readers already know that Brazil is at the helm of the currency war when it comes to Latin America. However, increasingly, Colombia, Peru and even Costa Rica are turning into brothers in arms, determined to ease the appreciation of their own currencies, the peso, the sol and the colón, respectively. Read more
What to do about the world’s biggest currency rally?
Colombia’s finance minister, Juan Carlos Echeverry, is urging more “aggressive action” to ease some of the pressure on the nation’s exporters.
Echeverry is highlighting the success neighbouring countries such as Peru have had with greater central bank intervention in currency markets. Read more