Colombia’s peso fell to a three-week
low as signs the South American economy is slowing hurt appetite
for the nation’s financial assets.
Colombia’s industrial output plunged 13.3 percent in
November, its biggest drop since 1999, the government said in a
report late yesterday. Economists had forecast an 8.1 percent
decline, according to the median estimate in a Bloomberg survey.
Retail sales fell a higher-than-forecast 3 percent in the same
month, the government said in a separate report.
The peso dropped 0.1 percent to 2,246 per dollar at 9:12
a.m. in New York, from 2,244.2 yesterday , according to the
Colombian foreign-exchange electronic transactions system, known
as SET-FX. It earlier touched 2,263.25, its weakest since Dec.
The yield on Colombia’s 11 percent bonds due in July 2020
fell one basis point, or 0.01 percentage point, to 10.16 percent,
according to Colombia’s stock exchange. The price rose 0.054
centavo to 105.418 centavos per peso. (Bloomberg)