Colombian Peso Leads Losses in Emerging Markets as Oil Tumbles
- OPEC lifts output target to 31.5 million bpd from 30 million
- Oil represents about 40 percent of Colombia's exports
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Colombia’s peso fell the most in emerging markets after OPEC said it will keep pumping oil at current levels, dimming the outlook for the nation’s main source of export revenue.
The currency fell 1.8 percent against the dollar to 3,201.91 per dollar at the close in Bogota, the lowest since August. The peso has lost 11 percent in the past month, the worst performance in emerging markets.