1784.7500 peso, down pretty big today

morphus says on May 7, 07:41:

And?

BillBigD says on May 7, 11:42:

Well my comment is it the $ has bounced pretty good today.
Right now-1798.5500

rocinante says on May 7, 11:52:

"The [Colombian] government said it will use derivative contracts to convert as much as $2 billion in international debt to peso obligations to take advantage of a five-year rally in the currency. Finance Minister Oscar Ivan Zuluaga said the government will buy dollars from banks when the multilateral debt matures.

The peso dropped 0.6 percent to 1,766.6 per dollar. [as of earlier today - close still pending]

The yield on Colombia's benchmark 11 percent bonds due July 2020 rose 3 basis points to 10.96 percent, according to Colombia's stock exchange."

http://www.bloomberg.com/apps/news?pid=20602096&sid=a5UD.AG.Mldg&refer...

When the US Dollar gains because of news such as the above it's a good thing. Today is a good day to go to the ATM.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

BillBigD says on May 7, 12:02:

It is at $1800.00 as of this writing. And sorry to disagree but I don't think that is the reason. $ is gaining 2% against Brazil and 1% against the Peso of Chile.
Not predicting as it just might be a bounce.

rocinante says on May 7, 13:24:

Mr Bill: The currency analysts at Bloomberg who are usually a vavgue bunch were a little more specific (what was your reason again?).

I'm not one for posting whole entire articles and I'm not about to start now. I only posted the part about Colombia since this is a Colombian forum. Link in my previous post, feel free to check it out as it references Latin America vs the USD, not just Colombia. Here's the opening for you lazies:

"May 7 (Bloomberg) -- The following events and economic reports may influence trading in Latin American local bonds and currencies today....."

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

BillBigD says on May 7, 20:58:

Rocinante,
Well, you got me there, I didn't think that Brazil, Colombia and Mexico (even Chile was down 1% at the time of my post) would all have individual reasons why their currencies would be dropping against the $. I will check more closely next time

rocinante says on May 8, 06:18:

You know those Mexicans in South America. They all stick together. The dollar did well yesterday accross the board so you're right as well.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008