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The Colombian peso traded near COP 4,000 per USD, its weakest level so far, a devaluation of about 18.9% year to date. Prices fluctuated within reasonable ranges during the prior week.
The central bank cut its policy rate from 4.25% to 3.75% and launched dollar and peso liquidity auctions and swaps.
A weaker peso raises the local cost of imported feed ingredients such as soybean meal and corn. The rate cut and liquidity injections aim to stabilize the currency, but Colombian feed importers still face higher dollar costs.
bu.com.coMar 30, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
