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BanRep's Villamizar Does Not See FX Intervention As Appropriate

  • Colombia’s flexible peso helps the economy weather shocks, and the central bank should refrain from intervening to stem its recent plunge, according to one of the bank’s board members. (Bloomberg)
  • “I personally do not think that FX interventions are appropriate under the current circumstances,” central bank co-director Mauricio Villamizar said, in response to written questions.
  • The comments echo BanRep's Governor who said trying to fight against the devaluation of the Colombian peso would probably be futile and very costly, speaking to Semana magazine on Tuesday.

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