PESO at 1850 ???

tasco66 says on Jun 26, 2008, 09:28:

Colombia cenbank suspends forex interventions
Thu Jun 26, 2008 11:07am EDT

BOGOTA, June 26 (Reuters) - Colombia's central bank said it suspended its program of foreign exchange interventions, designed to control peso volatility, starting on Thursday and continuing through August 8.

The bank issued a statement on Thursday announcing the suspension, which followed its decision on Friday to buy $20 million per day in the foreign exchange market in a bid to control the rise of the peso.

The announcement of the suspension of the anti-volatility intervention program prompted selling of the peso, which sank 3.9 percent to 1,847 to the dollar, extending deep losses for the week. (Reporting by Nelson Bocanegra, writing by Hugh Bronstein; Editing by Jonathan Oatis)

http://www.reuters.com/article/bondsNews/idUSN2631478620080626

Bravo, Presidente Uribe for the perfect operation!

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wendell13 says on Jun 26, 2008, 09:29:

I don't know why but I like it.....you can ask some of the analyists here. They always have insight like the dollar will never reach 1850 again. I have no idea where it is going.

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sloopskipper says on Jun 26, 2008, 09:29:

look at:

http://news.ino.com/headlines/?newsid=20080626009703

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nbenjamin says on Jun 26, 2008, 09:44:

Thanks for the info - maybe it will hit 2000 by the time I get there next week....

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bickerss says on Jun 26, 2008, 10:19:

ahh - imagine a return of the golden days (for visitors to Colombia) of 2800 pesos to the dollar!!!

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JCochranUSN says on Jun 26, 2008, 11:00:

What rate do they commonly give in ATM's in Colombia?? Can I expect to get a pretty decent exchange rate??

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ColombianoGringo says on Jun 26, 2008, 11:06:

They normally give something close to the official closing rate for the day. It is much better than what you would get from money exchange places or MoneyGram/Western Union transfers. Capital One gave me around 1756 early last week. I haven't checked what Chase gave me.

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SUERTE GRINGO says on Jun 26, 2008, 11:17:

Anyone know when the last time the PESO was at 2000?

This would be great for the Festival of Flowers.

“If you're gonna eat your crackers in bed, you're gonna have to sleep with crumbs."

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sanandressi says on Jun 26, 2008, 11:18:

If the CFR gets there way there will be a single currency from the north pole to the south someday.....like the EURO....

Support Plan Colombia, re-elect ilena Ros-Lehtinen

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panthdave says on Jun 26, 2008, 11:44:

JCochran ATM's will give you the best rate...I have found though that ATH Network ATM's will not give the best rate..I think somehow they charge a percentage before sending off to Visa/Mastercard International for an approval..I have found Citibank and Colpatria ATM's give the best rate. Now you need find out if your bank will hit you with international fees..Capital One and many others its just a pass through on there end...

Uribe was on a mission to weaken the peso because of the flowers and textiles getting hit hard with a strong peso....I still think Colombia does better with a strong peso but you know its not the right time for that maybe Uribe is thinking..

I tell ya what a rollercoaster that last month on the Peso....

panthdave Miami

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aztec says on Jun 26, 2008, 13:04:

"I never see Citi bank of American ATMS here."

My wife and I have an account with Citiibank Colombia. ATM's are in each of their branches.

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tejasmarcos says on Jun 26, 2008, 13:43:

there is a citibank atm at blockbuster across from oviedo mall. i think citi has a branch here in mde as well.

trying to walk a straight line on sour mash and cheap wine...

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quantum says on Jun 26, 2008, 13:46:

One political system, one currency is assuredly their (CFR) long term objective, for better or worse. And despite the EEC´s and Euros current problems, you need to remember that theze people are very patient and understand well the concept of boiling the frog slowly so he never jumps out of the pot. As far as Im concerned, all currency anywhere on the planet is counterfeit, conjured out of thin air by irresponsible corrupt govts. Welcome to the beginning of the "Time of Trouble" Its only gonna get worse. Time to translate that worthless green shit (or whatever color your country has chosen to distinguish its counterfeit paper) into fertile land in a sparsely populated tropical highland ,buy bicycles and horses and tools and seeds while the system still more or less works and people are foolish enuff to accept your phoney money. The fact that the COP rises or falls against the $ only represents the fact of local govt intervention. Its whatever or however they want to play it. The $ is practically in freefall, the euro is in baina, and yet the peso suddenly begins to fall. Wow, what a mystery.........

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tejasmarcos says on Jun 26, 2008, 13:49:

baina?

trying to walk a straight line on sour mash and cheap wine...

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sanandressi says on Jun 26, 2008, 13:58:

it could go to 4000 if the fed decides to raise interest rates someday or could go to 500 if you knew for sure you would be rich...

Support Plan Colombia, re-elect ilena Ros-Lehtinen

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wendell13 says on Jun 26, 2008, 14:52:

"1900 No way. I don't think it will ever cross 1850 again much less 1900"

Rubito May 31, 2008

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SUERTE GRINGO says on Jun 26, 2008, 15:18:

At this rate we may well see 1900 very soon. I hope.

“If you're gonna eat your crackers in bed, you're gonna have to sleep with crumbs."

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RJQuilla says on Jun 26, 2008, 17:04:

I say it can only go up if left alone. Likes a strong dollar!!!

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tejasmarcos says on Jun 26, 2008, 17:24:

never doubt rubito greenspan....

trying to walk a straight line on sour mash and cheap wine...

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tejasmarcos says on Jun 26, 2008, 18:25:

agreed

trying to walk a straight line on sour mash and cheap wine...

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billyb says on Jun 26, 2008, 18:33:

1984, do you by chance have the link to the forbes article?

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tejasmarcos says on Jun 26, 2008, 19:42:

http://www.forbes.com/forbes/2008/0421/034.html

- interesting article actually....

trying to walk a straight line on sour mash and cheap wine...

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billyb says on Jun 26, 2008, 20:17:

thanks tejas.

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Frank Rizzo says on Jun 26, 2008, 23:58:

You guys may be right if we see a 1200 cop exchange to the dollar.......it'll be the end of colombia exports. The country will fall deeper and deeper. I can tell you that gringo money buying EMcali debt is drying up daily.

Hey Aztec.....let me know what you're doing in sept. i'm spending sept in Panama city with viewpoint......you oughta come by...

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Medellin Traveler says on Jun 27, 2008, 03:20:

Rubito says, "SOME exports will still be going strong"

Name ONE besides COCAINE?

AND...exports to where?

Certainly NOT the USA.

Colombians will starve more than ever.

"Huevos Rancheros en Medellin, No Quiero Taco Bell." - www.medellintraveler.com

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aztec says on Jun 27, 2008, 04:48:

"Hey Aztec.....let me know what you're doing in sept. i'm spending sept in Panama city with viewpoint......you oughta come by..." Frank

We would like to do just that. He has kindly invited me and my wife more than once. We are considering the trip. He might be surprised.

For what it's worth if we had followed his advice about 4/5 years ago we would be a little better off financially. Of course that would have taken money we didn't have!

Please give him regards from the GA couple he met in the Islands.

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morphus says on Jun 27, 2008, 04:51:

1.00 USD = 1,870.00 COP

It looks like the experts at Colombia's central bank came to the conclusion that Colombia is far from ready for a strong peso. Colombia's economy is just too small. The Colombian GDP is only US$156.69 billion. Thats nothing compared to Germany's $2.63 trillion GDP or France's $1.891 trillion GDP. USA has the largest economy in the world at GDP: $13.13 trillion. Colombia is better off following suit to the US. Thats the only way Colombia can conduct business properly.

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droble77 says on Jun 27, 2008, 07:51:

Most of the Colombian business elite own export businesses and I'll bet many of them were starting to feel the peso was getting too strong too fast.

They've likely just about finished up their shopping sprees at Miami, Panama, etc. so now it's time to focus on the business, lol! :)

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BillBigD says on Jun 27, 2008, 08:57:

3 days of buying $'s is to much? Please $60million get real.

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tejasmarcos says on Jun 27, 2008, 09:12:

2000 pesos = $1, atleast at mcdonalds in medellin ;)

trying to walk a straight line on sour mash and cheap wine...

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morphus says on Jun 27, 2008, 09:18:

The Colombian economy is still 150 years behind the US. Half of the county is undeveloped. They are still at war with the injuns. Colombia does'nt even have a railroad.

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tejasmarcos says on Jun 27, 2008, 09:19:

wow! morphus, have you been reading lately?

trying to walk a straight line on sour mash and cheap wine...

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morphus says on Jun 27, 2008, 09:21:

I do a lot of reading.

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morphus says on Jun 27, 2008, 09:30:

The US is'nt going down yet. We still got China and Saudi Arabia. Canada will always be there too. Anyway, If the US goes down, the whole World is going down. I'm not talking economically either. I'm talking WAR. Look what happened when the US kept to itself. There was World War 1 and World War 2. If the US is too weak to police the world, we will have World War 3 on our hands shorlty after. Then everybody is DOOMED.

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tejasmarcos says on Jun 27, 2008, 09:51:

LOL! hopefully i will be passed out on guaro when that happens...

trying to walk a straight line on sour mash and cheap wine...

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morphus says on Jun 27, 2008, 10:08:

You run-of-the-mill sex tourists will be DOOMED!

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nueva york bombero says on Jun 27, 2008, 10:15:

Dont say such horrible things Morph!
It will never happen....

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morphus says on Jun 27, 2008, 10:26:

We better hope we are dead before it does. Its going to be horrible. At least now we can live in somewhat civilized societies. In the near future, the human population will increase so much, it will be impossible to controll so many people. There will be food shortages and cannibalism will be on the rise. Imagine sitting in your living room and having cannibals break in, eating you and your family. thats what the future is going to be like.

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nueva york bombero says on Jun 27, 2008, 10:37:

Really? Sounds like Night of the living dead!!!
Should I load up on shotgun shells now?

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SUERTE GRINGO says on Jun 27, 2008, 10:47:

NO, sounds like SOYLENT GREEN!

"Soylent Green is PEOPLE! They're eating PEOPLE!" famous words by Charlton Heston.

“If you're gonna eat your crackers in bed, you're gonna have to sleep with crumbs."

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miamimike says on Jun 27, 2008, 12:31:

Rubito says on Jun 27, 2008, 07:55: flag

If Colombia depends too much on the USA they are in BIG trouble. We're going down like a lead balloon over here folks. Colombia needs to glom onto other countries FAST and diversify in every way
=================================================================

They(col) already do! Last I knew Col was still accepting the Plan Colombia Billions in Aid. That makes them, for better or worse, attached to the USA at the Hip,,,

My Avatar-- Sarah Palin Says " "You know the difference between a pit bull and a hockey mom?? Lipstick!" Now on a Short Verbal Tether by the Honorable John McCain

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quantum says on Jun 27, 2008, 14:08:

So Morphus, u actually believe its the U.S. duty to police the world and that WW1 and WW2 happened without our participation. Youd make a great neo-con. What are u doing in Col anyway, spraying insecticide on cocoa flowers? I call the U.S. govt the #1 terrorist threat in the world today and its my guess that Uribe no matter how popular is a member in good standing of the same insider club. Hey sometimes theze guys know how to get things done. Hey, sometimes they give u the problem and then after u suffer for awhile, they come along on their white horse and offer the solution. Anyway, you guys all talk about money too much. Makes me tired and my mind starts to drift. Y,all sound like an L.A. cocktail party where theres only one subject of conversation.

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gringoloid says on Jun 27, 2008, 15:04:

jaja, pretty funny morphus!

quantum: morphus is just kidding around.

Who are the three blind men?

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tejasmarcos says on Jun 27, 2008, 15:09:

i think morphus spent a few days brushing up on vocab and horror movies ;)

- rubi for prez, morphus can be running mate....

trying to walk a straight line on sour mash and cheap wine...

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Medellin Traveler says on Jun 27, 2008, 16:13:

rubito says, "Rubito says on Jun 27, 2008, 15:03: flag

Plan Colombia helps American corporations. Colombia doesn't really SEE any of that $$$ in the economy at ALL."

You are saying that Colombia's economy has NOT benefitted from Plan Colombia?

Sorry, but regardless of how much money US corporations put into their pockets, without Plan Colombia, Colombia would not be where it is TODAY.

YOU, CAN NOT argue that fact!

"Huevos Rancheros en Medellin, No Quiero Taco Bell." - www.medellintraveler.com

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miamimike says on Jun 27, 2008, 16:28:

Plan Colombia helps American corporations. Colombia doesn't really SEE any of that $$$ in the economy at ALL.

---Violence is the price of freedom.---
===================================================================

You are kidding right??

My Avatar-- Sarah Palin Says " "You know the difference between a pit bull and a hockey mom?? Lipstick!" Now on a Short Verbal Tether by the Honorable John McCain

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tejasmarcos says on Jun 27, 2008, 16:39:

care to expand that argument?

trying to walk a straight line on sour mash and cheap wine...

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Medellin Traveler says on Jun 27, 2008, 17:40:

Rubito says,"I'm EXACTLY saying that. And I AM arguing that fact. I think it's pretty stupid to think that that money actually does ANYTHING for the Colombian economy."

YOU'VE GOT TO BE KIDDING!

This has to be posted in Elmos "Rubito says the darnest things" thread.

It's RECOCKULOS statement!

"Huevos Rancheros en Medellin, No Quiero Taco Bell." - www.medellintraveler.com

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tejasmarcos says on Jun 27, 2008, 17:58:

RTF ? read the f-ing ?

trying to walk a straight line on sour mash and cheap wine...

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