Colombia Peso Weakens Toward All-Time Low as Crude Oil Nears $30
- Peso had gained from Dec. 14 low of 3,378 on Isagen sale plans
- Brent oil fell to lowest since April 2004 before paring losses
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The Colombia peso weakened past 3,300 per dollar for the first time in two weeks as the drop in prices for oil, the nation’s biggest export, damped the outlook for dollar inflows.
The peso fell 0.7 percent to 3,279.9 per dollar at the close in Bogota after reaching as low as 3,315.73. The currency has fallen 3.2 percent this week, paring gains it made in the final weeks of December as the government set Jan. 13 as the date it will auction its majority stake in utility Isagen SA, which should raise at least $2 billion.