Colombian central bank suspends reserves accumulation

Board wants to assess impact of higher reserves on peso’s exchange rate

philippines-peso

The executive board of the Central Bank of Colombia decided on May 31 to suspend the reserves accumulation programme it started in October 2018.

The board halted the scheme “in order to evaluate its impact on the behaviour of the foreign exchange market in the recent juncture”, a central bank official with knowledge of the matter says.

This assessment will be carried out throughout the summer and may decide to resume reserve acquisitions in late 2019, the official adds.

The central bank aimed

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