# Colombian peso rises on rate hike, Mexican FX slumps on weak GDP | Financial Post

> Colombia's central bank raised its policy rate by 50 basis points to 2.50% on October 29, 2021, its second consecutive monthly hike, and the peso rose 0.3%. Mexico's peso fell 1.1% after data showed the economy contracted in the third quarter, its first contraction since the pandemic rebound. Peru's sol was the best-performing Latin American currency in October.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/44788-colombian-peso-rises-on-rate-hike-mexican-fx-slumps-on-weak-gdp-financial-post
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Rate hikes and currency swings in Latin America affect local feed and meat demand costs and import pricing. The moves are unlikely to shift global grain or oilseed prices on their own.

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/colombian-peso-rises-on-rate-hike-mexican-fx-slumps-on-weak-gdp

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