Central Banking

Colombia revisits currency redenomination debate


José Darío Uribe, the governor of the Central Bank of Colombia, has expressed support for a proposal in the country's Senate to redenominate the currency, despite the costs of such a move.

Lawmakers have debated a proposal to redenominate the peso since 2001 and in recent weeks have revisited the issue, discussing a plan that would see the peso rebranded as the nuevo peso with three zeroes struck off the end.

The redenomination has been proposed for three reasons. First, the number of zeroes

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