U.S. Dollar vs Colombian Peso

[DCNUPE/Eddie]

Sorry I don't have an article to strengthen my argument, but I hear that many US businesses in Colombia are complaining to the government over there about the rise of the COP and the fall of the US Dollar. They are talking about pulling out of Colombia.

I am happy that their economy is doing so well, however as an american with multiple financial ties in the Country, its killing me! Back in 1998 I remember the COP rate was 2950 per US Dollar. Man what happen?????? Uribe.

Sorry didn't realize there was already a thread on "Money Matters"

[LastLion]

Why would a US company complain, its worth in colombia is growing. Better to be there than here. I think it is our governement and the people who get our 5 billion a year in colombia who are complaining, becuase now it is only 4 billion compared to the peso! last years time!

[Cap'n Jib]

A reason US companies might complain is that when they try to get their money out of the country, it quickly becomes less in value (beause they are trying to take their profits in a weaker currency). A second point might be that producing in a country with a rising currency makes those products LESS competative through out the world.

[Lostagain]

They'll also complain because it takes a lot more of their money for capital investments and labor is relatively more costly.

[DCNUPE/Eddie]

Today's rate exchange:

Live rates at 2007.07.03 16:27:16 UTC
1.00 USD = 1,958.80 COP
United States Dollars Colombia Pesos
1 USD = 1,958.80 COP 1 COP = 0.000510517 USD

Sad

[Miglvoz1113]

Worst than sad.

Eddie,

The exchange rate is effecting all of us. In hinesite, I guess I should have invested way back in early 2000. But hey, I wasn`t ready and I`m still not, but closer to it. The Dollar is even worse in Brazil where the Real is taking off and a lot of guys, mostly the monger crowd are really affected and this is a good thing. All you can do is bite the bullet and hang in there!

[Ciza29]

Now it is cheaper for Colombian and Brazilian men to come to america and get a hot american woman. The silver lining.

Also our goods are cheaper and thus our trade deficit will shrink as more US goods are sold world wide. This will lead to an increase in jobs. And those jobs will stop going overseas because real wages in china and costa rica are now much higher.

Originally Posted by Ciza29

Now it is cheaper for Colombian and Brazilian men to come to america and get a hot american woman.

I saw American gals in ChipiChapi last week with Colombianos! I am serious! I saw two, nice looking blonde gals with crusty, burger belly Colombianos. One AW was in flip flops, wrinkled clothes, like she just woke up, pushing the baby carriage. The people were looking at them and going WTF? She was slim though, I`ll give her that. Maybe Sailover is on to something......

If you go on Craigslist you find quite a few young AW gals looking for foriegn men.