Bloomberg News

Colombia to Auction Dollars When 10-Day Moving Avg. Over 2%

September 30, 2011

Sept. 30 (Bloomberg) -- Colombia’s central bank said that it will begin buying and selling dollars in auctions to curb the peso’s volatility.

The bank will auction $200 million in the spot market when the peso’s 10-day moving average changes by more than 2 percent, the bank said in a statement today.

The bank said the measure was a response to “extreme volatility” in financial markets.

To contact the reporter on this story: Matthew Bristow in Brasilia at mbristow5@bloomberg.net

To contact the editor responsible for this story: Robert Jameson at rjameson@bloomberg.net


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