Colombia's Cardenas says conditions right for forex target range
WASHINGTON Oct 9 (Reuters) - Colombia's Finance Minister Mauricio Cardenas said on Wednesday he would be comfortable with an exchange rate of between 1,900 and 1,950 Colombian pesos per U.S. dollar and that domestic and international conditions allow for that range.
"We have said that an exchange rate of between 1,900 and 1,950 pesos per dollar is a rate that generates calm in terms of an equilibrium," Cardenas told reporters at a news conference following a meeting of finance ministers of the Americas.
"We believe that the conditions are there, both in the international environment as well as in the Colombian monetary and exchange rate policy so that the currency is within that range," he said.
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