At this stage it does not look very plausible that the Colombian peso will average 2,240 for the year. I am not convinced the peso will have that much momentum to trade below 2,300 again.
Quotes about peso (16 Quotes)
People wanted to adjust the value of the peso and the stock market took it well.
The central bank wanted the peso to weaken, so if it is weakening, one of their incentives to cut rates is no longer there.
Disaster had been priced into the peso, but they dodged the bullet. It's been a pretty remarkable turnaround. Arroyo deserves some of the credit.
The lifting of the state of emergency is a clear signal that the threats against the government have been neutralized more so this would boost financial markets, particularly the peso.
This is the only rating that should matter to her because people are voting with their money, by betting that the peso will continue to climb because she would pursue her economic reforms.
We followed the money around the globe and into the hands of major Colombian drug traffickers, ... We've shown the black market peso exchange for what it is -- the largest known drug-money laundering mechanism in the Western Hemisphere.
Mexico is not part of South America, but of North America, in respect of the current 'crisis' situation. We see the damage for the peso from this current crisis as being modest.
Overall, we feel good about the state of our business, and assuming that significant currency weakness does not spread to other Latin markets, we continue to target double-digit earnings growth in 2002 even if the Argentine peso devalues further to 2.00 to the dollar,
This does not change our positive view on the stock, as we expect sequential operating improvements in the next quarters, particularly from the chemical division. We also believe that Alfa should benefit from a weaker peso.
What the world seemed to miss is that the stock market didn't plunge, the peso didn't collapse and bond yields didn't shoot up. And people here in the Philippines didn't panic.
The transmission mechanism for inflation from political instability is usually through the exchange rate. However, this time around, the peso quickly recovered and I would expect it to remain strong for the rest of the year based on continuing structural economic reforms.
The peso attempted to breach the 53 level for the first time in over two years. The next target would be for the peso to reach the 52-to-a-dollar level.
We think that with the risk of surprisingly tight U.S. monetary policy diminishing as the U.S. economy decelerates, and with the peso strong, the scales are tipped to a 50bp east at the January meeting.
Our number one priority is to spend every peso possible to include those who are currently excluded.
I believe the exchange rate could have a small reaction (to the rate hike). If the peso opened today at 522 (per dollar) tomorrow it could open at 525, but at that level we'll certainly see some dollar offers coming in on profit taking.