Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg News

Colombian Peso Declines to 11-Month Low; Bond Yields Rise

April 15, 2013

Colombia’s peso fell to an 11-month low on speculation that a government stimulus package scheduled to be announced today will weaken the currency.

The peso weakened 0.5 percent to 1834.30 per U.S. dollar at 8:59 a.m. in Bogota, the weakest level on a closing basis since May 24 last year.

The government will present a stimulus plan for industry and agriculture this morning including measures to help exporters by weakening the peso. Finance Minister Mauricio Cardenas told a meeting of the country’s pension fund association April 12 that the peso is about 10 percent overvalued.

“The government’s action plan has been influencing the currency market a lot since last week,” said Diana Guiza, an analyst at Bogota-based brokerage Corredores Asociados. “People have speculated that they could force pension funds to invest much more in dollars.”

Colombian pension funds should invest more outside the country, to diversify and reduce risk, Cardenas said last week.

Yields on Colombia’s peso bonds maturing in 2024 rose three basis points, or 0.03 percentage point, to 5.03 percent, according to the central bank. The price fell 0.3440 centavo to 141.9370 centavos per peso.

To contact the reporter on this story: Matthew Bristow in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

blog comments powered by Disqus