Changing the Peso

My Colombia mother-in-law say that in the
news in Bogota they are talking about droping
the zero OOO. This was done i think about
15 years ago in Mexico. I remember how easy
it was to figure out in your head the cost
of things....Hope Colombia goes forward.
Then Italy should take notice.

How about turkish lira ( over 1 million to $US ). Less zeros ,less confussion,....more space in your pockets, more toilet paper. Aproved !

[Bill123]

Believe it or not, Colombia has not had the problem with inflation as much as in other countries.

Colombia has an inflation problem, but, I know what Bill means - Colombia doesn't have a "hyperinflation" problem like many Latin nations have had in the recent past. That's why Ecuador "dollarized" it's economy.

By the way, there is an index (aptly named the "U.S. Dollar Index") which tracks the strength/weakness of the U.S. dollar versus a statistical amalgamation of foreign currencies. At present, the U.S. Dollar Index is at or near at all-time high. In other words, the "greenback" is very strong (valuable in comparison to foreign currencies.)

God bless Volcker & Greenspan.

Jeff

[Bill123]

Yes, you are right...and it amazes me that Equador is now on the dollar, even though the coinage is still in their money. Even East Timor is considering going to the dollar as their official currency!

And I've tried to follow prices in Bogota thru my trips and they seem very stable in their currency. If anything, due to economic circumstances, some prices have dropped.

And since the dollar is strong against the peso, things are super cheap for us.

I paid about $300 to stay there for three weeks for housing!