LatAm countries play down talk of burgeoning currency war

Map of Latin America

The central banks of Peru and Colombia have played down fears of a currency war in the region, saying daily dollar purchases are being made to build reserves and tackle exchange rate volatility.

A spokeswoman for the Central Bank of Peru said sterilised foreign exchange interventions were being made to prevent "sharp exchange rate fluctuations" and to create a buffer of liquidity to respond to financial shocks.

Similarly, the Central Bank of Colombia said the main reason behind the interventions

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