# Colombia's peso leads rise among Latam FX after approving 2021 budget | Financial Post

> Colombia's peso rose the most among Latin American currencies after Congress gave final approval to a record 314 trillion peso budget for 2021, 8.3% above this year. Brazil's real was flat after the U.S. ambassador said both countries aim to double bilateral trade within five years.

- Date: 2020-10-20 · published 2020-10-20T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/50918-colombia-s-peso-leads-rise-among-latam-fx-after-approving-2021-budget-financial
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Currency moves in Brazil and Colombia affect the cost of their exports, including soy, corn and meal, in dollar terms. A firmer real can slow Brazilian export competitiveness, while the budget and trade news have only modest direct effect on feed prices.

## Read by commodity

- USDBRL: neutral
- USDCOP: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-01-27 | [Strong dollar hits Latam FX, Russian assets rise \| Financial Post](https://feedsoft.ai/events/43348-strong-dollar-hits-latam-fx-russian-assets-rise-financial-post.md) | -2.9% | -5.7% |
| USDBRL | 2020-05-07 | [Latam FX on fragile footing after coronavirus shock, downside risks linger \| Financial Post](https://feedsoft.ai/events/53338-latam-fx-on-fragile-footing-after-coronavirus-shock-downside-risks-linger.md) | +4.2% | -10.3% |
| USDBRL | 2020-10-29 | [Latam FX steadies after selloff; Oil-linked currencies slide \| Financial Post](https://feedsoft.ai/events/50919-latam-fx-steadies-after-selloff-oil-linked-currencies-slide-financial-post.md) | -1.5% | -6.3% |
| USDBRL | 2020-06-12 | [Mexico's peso up strongly after brutal selloff; Brazil's real down \| Financial Post](https://feedsoft.ai/events/52838-mexico-s-peso-up-strongly-after-brutal-selloff-brazil-s-real-down-financial-post.md) | +7.6% | +7.2% |
| USDBRL | 2022-04-27 | [Brazilian real, Chilean peso steady against raging dollar \| Financial Post](https://feedsoft.ai/events/6862-brazilian-real-chilean-peso-steady-against-raging-dollar-financial-post.md) | +0.3% | -3.2% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/colombias-peso-leads-rise-among-latam-fx-after-approving-2021-budget

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