Colombian peso closes lower , importers buy dlrs .
BOGOTA 1996-08-26
Colombia 's peso closed lower at 1,044 after coming under pressure from dollar-buying by importers seeking to meet their commitments abroad , interbank dealers said .
It was the second consecutive session that saw the peso , which ended at 1,041 Friday , close lower .
" The ( dollar 's ) rise was due to demand from importers who have a lot of wire transfers accumulated , " one dealer said .
Contributing to the peso 's weakness , another dealer said banks who might have sold greenbacks in Monday 's trading appeared to shy away from the market .
This , according to the trader , was typical of month-end position-squaring -- and the fact that a stronger U.S. currency helps limit some foreign exchange losses .
Dealers reported 355 trades for a total of $ 142 million and said the peso hit an intra-day high of 1,037 before heading lower into the close .
-- Juan Guillermo Londono , Bogota newsroom , 571 610 7944