Colombia Cuts Dollar Buying, Holds Rates

Colombia Cuts Dollar Buying, Holds Rates

Colombia Economy & Policy

Colombia's Central Bank surprised markets Friday by saying it would limit dollar purchases to $1bn in the fourth quarter. Colombia bought $5.32bn in dollars in the year to the end of August. "The bank seems to feel confident enough about the growth recovery that it believes it could take the risk of reducing the FX stimulus," Barclays says, adding that it expects the currency to close the year at current levels of around COP1,900 per USD. BanRep's decision came at its monetary policy meeting whe

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