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Peso Back Over 2,000 to the USD

http://www.dataifx.com/

See how long it stays there!!

1,807 to AUD

3,282 to GBP

By bickerss on Oct 28, 2009, 08:29 in Friendly Talkzone.

TampaKarlitos says on Oct 28, 2009, 08:40:

I predict 3000 by week's end.
(this is where we state we saw this coming right) I saw this coming!

Que importa la raza tampoco el idioma si al fin lo que cuenta es lo buena persona

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jman73 says on Oct 28, 2009, 09:04:

3,000?? I will lay you 10-1 right now that no way that happens but it will have to be a min. of 1k to make it worth it. Whatever Colombia is doing to devalue the peso against the dollar will only be temporary because its a sinking ship and they wont be able to prop it up forever.

"Anyone who thinks that Colombia is a gastronomical paradise needs to have their head examined." jman73

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TampaKarlitos says on Oct 28, 2009, 09:08:

Just joshin.....I simply enjoy when people predict the direction of the peso.
I will go on record as saying as I have no idea where the peso will go. But I prefer a strong dollar because my EPM bill is less. I hope that doesn't make me anti Colombian. Cause I am anything but that.

Que importa la raza tampoco el idioma si al fin lo que cuenta es lo buena persona

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BillBigD says on Oct 28, 2009, 09:21:

Just follow the stock market. Market down, peso down. All about risk. Wasn't so bad a prediction when at $1920ish on Monday i said it would be over $2000. And yes i am making money on that call.

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ColombiaBoard says on Oct 28, 2009, 09:37:

This is artificial, it´s not the "market", it´s the government trying to push the peso downwards because it´s affecting exports. The central bank has bought around 1.5 billion dollars in the last 2 weeks trying to get rid of the excess of dollars in the economy but they can´t keep buying forever, so, when they stop buying the dollar will fall again.

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oneforyourmillion says on Oct 28, 2009, 09:53:

Live rates at 2009.10.28 16:51:58 UTC
1.00 USD = 1,999.00 COP
United States Dollars Colombia Pesos
1 USD = 1,999.00 COP 1 COP = 0.000500250 USD

OOOPS!

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oneforyourmillion says on Oct 28, 2009, 09:54:

The government has bought1.5 billion in the last few weeks? you sure about that? I doubt they are done buying that amount. That kind of purchsing in two weeks seems to me would upset the applecart.

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davidyamiga says on Oct 28, 2009, 09:55:

I will really get excited if the peso was 2,500 to the dollar. Otherwise, it really doesn't matter.

Otra vez en casa...Cali!

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oneforyourmillion says on Oct 28, 2009, 09:56:

What is going ot eventually kill teh peso is people defaulting on all the recent credit cards and car loans. When they do that banks will take houses and thus flood the market with homes for sale at discount prices. This will lead the forign money invested here in same to bail and when that happens pss get changed to dollars and we are back to 2900.... I am dreaming of the day once again ;)

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pedro (☼Travelguide writer) says on Oct 28, 2009, 10:00:

BBD, it might be regional, too. Ever since Brazil put those capital controls in place, the Colombian peso has been going backwards.

It might not be so much the actual intervention by the Colombian central bank. But the fact they came out at the same moment as Brazil and stated they wanted the peso lower and were planning to act in the market... that would be enough to take it lower.

"this may seem a strange post but it is not...when in colombia men need to be aware that colombia women may try to be seductive and entice a travelling gringo to have sex with them..to be forewarned is to be forearmed..." -- pow wow

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oneforyourmillion says on Oct 28, 2009, 10:07:

Can we just ignore that the dollar has been moving up against all other currencies at the same time? I think not. That would account for this entire move in my opinion. A huge move against the euro.

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pedro (☼Travelguide writer) says on Oct 28, 2009, 10:12:

GIB, no it wouldn't. The COP has plummeted against the AUD. The AUD is also correlated to the equities market and risk appetite. Can you explain why the COP has fallen so much against the AUD?

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oneforyourmillion says on Oct 28, 2009, 10:13:

dollar euro a couple days ago was at 1.5065 high and today is at 1.4759 low. That is a big move and at the same time the peso went from 1940 to 2k. Do you see Central bank intervention? I don't.

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BillBigD says on Oct 28, 2009, 10:23:

Pedro- I didn't realize that COP has gone down against AUD. I don't trade those against one another. But both COP and AUD are getting killed today.

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RobbieRobNJ says on Oct 28, 2009, 10:25:

2015 per dollar !

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CakeDesigner-wannabe says on Oct 28, 2009, 11:11:

When I was in Cali 2 weeks ago, I changed $250 US which is that I have lost $50,000 compare to today's value :(((

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bam m says on Oct 28, 2009, 11:40:

1981 ....11 cop per USD

now..what 1900 cop per usd...

yeah...i see colombia going places....

workers on the street...not just your day laborers....electricians, tile layers, wood workers...

the recession will sink its heels in the next year...and drop that country another level...(i'm not happy about it...owning several homes and properties there.., but it is reality)...

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bickerss says on Oct 28, 2009, 12:14:

If I remember correctly the AUD was 1800 in 2003 when I first came (at which time the USD was also 2,900, or there-abouts). AUD has fallen below 1600 in the past.

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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