# Colombia's central bank says economy 'can take impact' after peso takes nosedive - Colombia News

> Colombia's peso fell to a record low against the dollar on March 9, moving from COP 3,589 to COP 3,805 in early trading. The drop followed a sharp fall in oil prices and a global stock sell-off. The central bank held an emergency meeting and said the economy could absorb the shock.

- Date: 2020-03-09 · published 2020-03-09T12:00:00.000Z
- Category: macro · region Colombia · magnitude medium
- Page: https://feedsoft.ai/events/54403-colombia-s-central-bank-says-economy-can-take-impact-after-peso-takes-nosedive
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oil price weakness hits Colombia's export revenue and currency, which raises the local cost of imported feed. Continued crude weakness would keep pressure on the peso and on import-dependent feed costs.

## Read by commodity

- WTI: bearish ▼
- USDCOP: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-04-25 | [Colombia's central bank expected to hold rates despite government pressure: Reuters poll \| Reuters](https://feedsoft.ai/events/25406-colombia-s-central-bank-expected-to-hold-rates-despite-government-pressure.md) | -5.0% | -1.9% |
| WTI | 2020-03-09 | [Brazil central bank to continue FX intervention as long as it takes to calm market \| Financial Post](https://feedsoft.ai/events/6408-brazil-central-bank-to-continue-fx-intervention-as-long-as-it-takes-to-calm.md) | -23.0% | -31.2% |
| WTI | 2019-01-17 | [South African Rand Slips after Reserve Bank says Fewer Rate Hikes Needed](https://feedsoft.ai/events/61385-south-african-rand-slips-after-reserve-bank-says-fewer-rate-hikes-needed.md) | +0.7% | +3.3% |
| WTI | 2017-07-09 | [Trouble lurks ahead for the Colombian economy - Colombia Focus](https://feedsoft.ai/events/70250-trouble-lurks-ahead-for-the-colombian-economy-colombia-focus.md) | +5.2% | +12.0% |
| WTI | 2023-07-03 | [Colombian Peso To Weaken Slightly In H223, But Will Retain M](https://feedsoft.ai/events/35315-colombian-peso-to-weaken-slightly-in-h223-but-will-retain-m.md) | +3.4% | +15.8% |

## Sources

- colombiareports.com: https://colombiareports.com/colombias-central-bank-says-economy-can-take-impact-after-peso-takes-nosedive/

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