In 2018, the Colombian peso
appreciated more sharply against the US doLlar than the currencies of producers of Other Milds, allowing Colombian exporters to sell at a lower price.
This has been mirrored in emerging market currencies, where the Colombian peso
now stands independently as the only tracked currency to have advanced against the dollar year to date.
Also, subject to market conditions, up to an equivalent of USD200m in Colombian Peso
benchmark up to seven years will be considered.
In a conference call, president and chief executive officer Jose Luis Laparte pointed out that the strong dollar versus the Colombian peso
continued to have a negative effect on the company's business.
* Wine consumption continued growing, however the rate of growth decelerated due to the higher pricing that the category has undergone as a result of the devaluation of the Colombian peso
Last year, with respect to the American dollar, currencies dropped to their lowest levels in 22 years: the Brazilian real lost 29 % of its value, the Colombian peso
23 % and the Chilean and the Mexican pesos 12 % each.
The projected increase in value sales is explained by the impact of the strong devaluation that the Colombian peso
experienced during 2015, being over Col$2,900.
Crashes to New Low," Financial Times, January 20, 2016, www.ft.com/fastft/2016/01/20/colombian-peso-crashes-to-new-lows/.
In this scenario, it is prudent to remain short the Turkish Lira, Brazilian Real, Malaysian Ringgit, Colombian Peso
, South African Rand and the Indonesian Rupiah.
Live trading is now available in Indian Rupee (INR), Brazilian Real (BRL), Chilean Peso (CLP) and Colombian Peso
However, the group is being hit by the weakness of various operating currencies such as the Colombian peso
, Australian dollar and South African rand, which make raw materials such as barley and aluminium more expensive for local units.