# Colombian peso leads global oil losses: Andes FX - Infobae

> Andean currencies fell on March 15 as oil dropped sharply, with Brent-linked crude down 6.4% that day after a 5.4% fall on Monday. The Colombian peso became the world's worst-performing currency, and analysts noted that lower oil weighs on Colombia's export earnings.

- Date: 2022-03-15 · published 2022-03-15T12:00:00.000Z
- Category: macro · region Colombia · magnitude medium
- Page: https://feedsoft.ai/events/42561-colombian-peso-leads-global-oil-losses-andes-fx-infobae
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A sharp fall in crude weakens oil-exporting Colombia's currency and dollar-linked earnings, while lower energy costs ease some pressure on feed and freight inflation.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- USDCOP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-04-21 | [Oil-sensitive Mexican, Colombian pesos lead losses in Latam \| Financial Post](https://feedsoft.ai/events/53907-oil-sensitive-mexican-colombian-pesos-lead-losses-in-latam-financial-post.md) | -32.4% | +73.9% |
| WTI | 2020-07-28 | [Colombian peso hits lowest in a month on weak oil price \| Financial Post](https://feedsoft.ai/events/52400-colombian-peso-hits-lowest-in-a-month-on-weak-oil-price-financial-post.md) | -1.5% | +2.4% |
| WTI | 2017-06-21 | [Colombia's peso slides against US dollar as global oil prices tumble \| The City Paper Bogotá](https://feedsoft.ai/events/70797-colombia-s-peso-slides-against-us-dollar-as-global-oil-prices-tumble-the-city.md) | +2.2% | +8.8% |
| WTI | 2020-02-26 | [Oil extends losses as coronavirus outbreak accelerates outside China \| S&P Global](https://feedsoft.ai/events/7114-oil-extends-losses-as-coronavirus-outbreak-accelerates-outside-china-s-and-p.md) | -5.2% | -55.9% |
| WTI | 2022-10-31 | [Canadian dollar slips to six-day low as oil prices fall - The Globe and Mail](https://feedsoft.ai/events/39347-canadian-dollar-slips-to-six-day-low-as-oil-prices-fall-the-globe-and-mail.md) | +5.4% | -12.2% |
| BRENT | 2020-07-28 | [Colombian peso hits lowest in a month on weak oil price \| Financial Post](https://feedsoft.ai/events/52400-colombian-peso-hits-lowest-in-a-month-on-weak-oil-price-financial-post.md) | +1.3% | +3.2% |
| BRENT | 2020-02-26 | [Oil extends losses as coronavirus outbreak accelerates outside China \| S&P Global](https://feedsoft.ai/events/7114-oil-extends-losses-as-coronavirus-outbreak-accelerates-outside-china-s-and-p.md) | -5.6% | -53.2% |
| BRENT | 2024-05-20 | [Global oil markets weaken as sluggish demand leaves overhang](https://feedsoft.ai/events/30451-global-oil-markets-weaken-as-sluggish-demand-leaves-overhang.md) | -3.1% | +0.3% |

## Sources

- infobae.com: https://www.infobae.com/en/2022/03/15/colombian-peso-leads-global-oil-losses-andes-fx/

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