Russia's ruble lost two per cent, followed by Colombian peso
's 1.5 per cent.
Meanwhile, the Colombian peso
has been steadily appreciating amid an oil and mining bonanza that has brought in billions in foreign investment.
During the most recent quarter the company incurred $1.3 million in pretax foreign exchange losses due primarily to a devaluation of the Colombian peso
, compared with a $332,000 gain a year ago.
At the same time, it has put upward pressure on the value of the Colombian peso
, making imported consumer goods more competitive on the local market.
GCM's cash cost and all-in sustaining cost (AISC) are exposed to the Colombian peso
, whose value fell around 53% from Dec.
The first two years of the forecast period will see some difficulties in volume sales as a result of the strong devaluation of the Colombian peso
that will influence consumer prices, leading consumers to be more prudent regarding expenditure.
[USPRwire, Mon Sep 21 2015] The depreciation of the Colombian peso
against the US dollar in 2015 is a drag on growth by raising the cost of imported devices and solutions and resulting in deferred purchases and substitution for lower cost alternatives.
1 stares lasted all of 24 hours and was partly due to the strengthening Colombian peso
and the weakening Brazilian real.
Growth of both sales and trading profit were driven primarily by the company's international unit, which in turn benefited from increases in the value of the Brazilian real, the Colombian peso
and the Thai baht against the euro.
Also, since 1991 our costs of production have increased by 30% because of the revaluation of the Colombian peso