Colombia's Central Bank Announces Plan to Buy U.S. Dollars, Ease Rise of Peso

On Friday, October 23, 2009 Banco de la Republica, Colombia's central bank, announced plans to spend as much as 3 trillion pesos (US$1.6 billion) to buy U.S. dollars and government-issued peso bonds, which has risen by 30% against the dollar since March, 2009.