the put (call) option is that the representative market exchange rate (TRM, certified by the. Banking Superintendence) be below (above) its 20 working day ...
www.bis.org/publ/bppdf/bispap24k.pdf

The call options can be exercised once the representative market exchange rate exceeds the 20 day moving average. Through the end of April, the Central Bank ...
www.latin-focus.com/latinfocus/briefings/2003/0305_briefing...

Said deposit must be made in Colombian Pesos prior to each disbursement, applying the representative market exchange rate for the date when the deposit is ...
www.bomchilgroup.org/colsep97.html - 10k



--------------------------------------------------
Note added at 31 mins (2005-09-29 18:09:55 GMT)
--------------------------------------------------

I found a section on "Country-unique terms" in an AT&T Service Manual that says that "tasa rep del mercado" is what the official exchange rate is called in Colombia. (Is your text from Colombia?)

Unless otherwise mandated by Colombian law, invoices for all applicable Charges shall be rendered in US Dollars, and payment shall be made in US Dollars. If any law, rule or regulation of a competent Colombian authority requires that payment for services rendered in Colombia must be made in Colombian Pesos, payment shall be made in the equivalent amount in Colombian Pesos based on the official exchange rate or "Tasa Representativa del Mercado" ("T.R.M."), set on the day immediately prior to the date the payment is made.

... Miscellaneous; Country Unique Terms; Glossary/Acronyms ... Pesos based on the official exchange rate or "Tasa Representativa del Mercado" ("TRM"), ...
www.att.com/abs/serviceguide/docs/evpn_sg.doc