Colombia’s peso fell to a one-week low Thursday morning after a report showed the economy grew less-than-forecast in the second quarter.
The peso also declined on bets the central bank will announce further measures to ease the currency’s world-beating rally after tomorrow’s monetary policy meeting.
The currency declined 0.6 percent to 1,813.25 per dollar at 12:49 p.m. New York time, from 1,803.18 yesterday. It touched 1,813.90, its weakest level since Sept. 15. Today’s drop pared the peso’s jump this year to 12.7 percent, still the best performance among all currencies tracked by Bloomberg.
Colombia’s economy expanded 4.5 percent in the second quarter from a year earlier, the country’s national statistics institute DANE reported earlier. That was less than the 5.5 percent median forecast in a Bloomberg survey of 31 analysts. (Andrea Jaramillo / Bloomberg)
ccording to the report of the Housing Mortgage Portfolio, institutions financing housing in the country have achieved an increase of 10.7 percent with a capital of 21,610 billion pesos in the second quarter of 2010. This represents an increase of 10.7 percent increase over 2009.
From January to July 2010, the real income of Colombia’s hotels increased 3.3 percent, compared with the same period in 2009, when it reported a 6.2 percent decline. Unemployment fell by 0.4 cent during the reported period and rose by 0.4 percent the same months in 2009.