Colombia’s central bank can do little to curb the soaring peso that’s putting exporters at a “tremendous disadvantage,” Governor Leonardo Villar said.
The peso has strengthened 21% this year, the most among more than 140 currencies tracked by Bloomberg.
Villar's comments highlight the challenges facing the central bank as it balances currency strength against economic competitiveness, with limited tools available to intervene.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing