Bloomberg News

Colombian Peso Falls After Regulator Takes Over Brokerage

November 02, 2012

Colombia’s peso fell the most in a week after financial regulators said they’ll take over Interbolsa SA (INTBOL)’s brokerage unit.

The peso weakened 0.3 percent to 1,830.8 per U.S. dollar at 9:56 a.m. in Bogota. The currency has gained 5.9 percent this year.

“The regulator’s statement added noise and uncertainty to the market,” said Diana Guiza, an analyst at Corredores Asociados brokerage in Bogota. “People are looking to hedge, so there is greater demand for dollars.”

Colombia’s financial regulators will take over the Bogota- based brokerage after parent company Interbolsa tumbled the most on record yesterday, on a statement that its unit is facing a “temporary” funding shortage.

To contact the reporter on this story: Camila Russo in Buenos Aires at crusso15@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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