# Colombian peso, market down on leftist Gustavo Petro's presidential win

> The Colombian peso fell nearly 5% at the open on Tuesday, its largest intraday drop since late 2008, before closing down about 3% at 4,022.50 per dollar. The MSCI COLCAP stock index closed down 3.82% after falling more than 5% intraday, following leftist Gustavo Petro's presidential election win.

- Date: 2022-06-21 · published 2022-06-21T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/41219-colombian-peso-market-down-on-leftist-gustavo-petro-s-presidential-win
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Political risk from a leftist president-elect is driving capital outflows and currency weakness, which raises the cost of imported feed inputs priced in dollars for Colombian buyers. A weaker peso makes USD-denominated feed ingredients like soybean meal and corn more expensive locally.

## Read by commodity

- USDCOP: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/us/colombian-peso-market-down-leftist-gustavo-petros-presidential-win-2022-06-21/

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