# Colombian Peso Hits Historic Lows As Fiscal Deficit Widens

> The Colombian peso fell to historic lows, with the dollar trading near 5,000 pesos on Monday and forcing central bank intervention in the forex market. The currency has lost over 30% against the dollar since June and about 10% since early September. Analysts point to widening fiscal and current account deficits and policy uncertainty under new president Gustavo Petro.

- Date: 2022-10-27 · published 2022-10-27T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/39412-colombian-peso-hits-historic-lows-as-fiscal-deficit-widens
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A weaker peso raises the cost of imported feed ingredients and increases Colombia's dollar debt burden, which can dampen import demand for corn, soybean meal and other feed inputs priced in dollars.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- nearshoreamericas.com: https://nearshoreamericas.com/colombia-peso-fiscal-deficits/

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