# Colombia peso slips after local rate cut; most currencies set for monthly gains

> Colombia's central bank cut its benchmark rate by 50 basis points to 10.25%, and the peso weakened 0.4% against the dollar on the day. Latin American currencies were on course for their biggest monthly gain in 10 months, helped by a metals rally.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/28604-colombia-peso-slips-after-local-rate-cut-most-currencies-set-for-monthly-gains
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Lower Colombian rates and a softer peso tend to weaken the currency against the dollar, which raises the cost of imported feed inputs in Colombia. The broader Latin American currency rally has little direct effect on grain or meal prices.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- livemint.com: https://www.livemint.com/news/colombia-peso-slips-after-local-rate-cut-most-currencies-set-for-monthly-gains-11727730728674.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.