So far this year, the Bank's purchases of foreign currency for US $ 4,057.6 million.
A few hours ago the Central Bank reported that throughout 2014 accumulated international reserves of US $ 4,057.6 million through the mechanism of direct auctions, buying dollars almost daily in the foreign exchange market to look contain a weak currency. The Issuer reported that only during the month of December 2014 made purchases of foreign exchange in the market through the mechanism mentioned above for $ 70.8 million. While initially this approach by the Issuing Bank of Colombia was highly questioned by the market, today with the escalation that has registered the dollar in Colombia, represents a significant recovery for investments made by the country where the cost of the dollar was much lower. So he drew Money Orlando Santiago de Fenix Valor, who highlighted further that a new intervention in this regard would not be over so far in 2015. "In the current scenario a favorable valuation shown and that the bank is not involved is not as delicate as you think, it is good that the market operates under the own arguments which explains the coins both the dollar and the Colombian peso, "he said. It is worth remembering that at the end of the last monetary policy meeting of the Bank in December, it was announced that given the levels reached in several Hedging indicators of external liquidity as well as recent changes in the exchange market conditions, the Board decided not to continue buying foreign reserves.According to a text of the National University of Colombia, the main component of accumulated reserves by the Bank corresponds to short-term investments, which are represented in deposits and securities abroad. These assets can be used to finance payments abroad, besides allowing intervention in the foreign exchange market and defend the exchange rate.
A few hours ago the Central Bank reported that throughout 2014 accumulated international reserves of US $ 4,057.6 million through the mechanism of direct auctions, buying dollars almost daily in the foreign exchange market to look contain a weak currency. The Issuer reported that only during the month of December 2014 made purchases of foreign exchange in the market through the mechanism mentioned above for $ 70.8 million. While initially this approach by the Issuing Bank of Colombia was highly questioned by the market, today with the escalation that has registered the dollar in Colombia, represents a significant recovery for investments made by the country where the cost of the dollar was much lower. So he drew Money Orlando Santiago de Fenix Valor, who highlighted further that a new intervention in this regard would not be over so far in 2015. "In the current scenario a favorable valuation shown and that the bank is not involved is not as delicate as you think, it is good that the market operates under the own arguments which explains the coins both the dollar and the Colombian peso, "he said. It is worth remembering that at the end of the last monetary policy meeting of the Bank in December, it was announced that given the levels reached in several Hedging indicators of external liquidity as well as recent changes in the exchange market conditions, the Board decided not to continue buying foreign reserves.According to a text of the National University of Colombia, the main component of accumulated reserves by the Bank corresponds to short-term investments, which are represented in deposits and securities abroad. These assets can be used to finance payments abroad, besides allowing intervention in the foreign exchange market and defend the exchange rate.