José Dario Uribe ’Very Satisfied´ With Effect of Colombia Dollar Purchases on Peso

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Fuente: Bloomberg.

Colombia´s central bank Governor Jose Dario Uribe said he´s “very satisfied´´ with the effect of the bank´s dollar-buying program and thatcapital controls aren´t currently needed to ease gains by the peso.

Uribe, who spoke in an interview at an event in Rio de Janeiro sponsored by the International Monetary Fund, said the bank plans to buy ‘‘at least’’ $20 million daily through June 17. He declined to say whether policy makers will extend the program at its board meeting next week.

Uribe said that the costs of imposing controls on investment inflows outweigh the benefits for Colombia at the moment, though conditions may change in the future.

‘‘Our view is totally pragmatic. It´s not ideological,´´ Uribe said.