The Colombian peso weakened 1.3% at the opening of the session, while
yields on local treasury bonds climbed as the rising toll from the
Mexican swine flu outbreak sent a wave of panic around the world.
The Colombian peso weakened to 2,320 to the dollar as
of 10:30 a.m. from COP2,290 Friday, while the yield on the benchmark
domestic paper maturing in 2020 traded at 9.04% as of 10:30 a.m. from
8.988% Friday.
“The Colombian peso as well as many currencies in the region are
depreciating as the swine flu can weakens global trade and restricts
flow of goods and travelers among countries,” said Diego Camacho, head
of research at local brokerage Acciones de Colombia.
Colombian health authorities identified 12 people with flu-like
symptoms who were recently in Mexico and took samples from them to send
to the U.S. for tests.
Gilberto Alvarez, the director of public health at Colombia’s health
ministry, Sunday said it was unclear whether the 12 being tested are
affected by the swine flu outbreak, which has killed as many as 103
people in Mexico.
Nearly 1,400 people in Mexico had been admitted to hospitals with
indications that they could be affected by the new virus. Two-thirds of
those admitted have been sent home.
The rising death toll from the Mexican swine flu outbreak forced the
United States to declare a public health emergency and other nations to
order border clampdowns. (Dow Jones)