Colombia Peso Falls to Record as Oil Spurs `Achilles Heel' Dread
- Crude, the country's biggest export, trades at 12-year low
- Cenbank co-director says current account is vulnerable point
This article is for subscribers only.
Colombia’s peso sank to a record as the rout in oil dimmed the outlook for the nation’s current-account deficit, which was dubbed the country’s “Achilles heel” by a central banker.
The currency weakened 2.5 percent to 3,395 per dollar at the close in Bogota, the worst performer after the Russian ruble among 31 major currencies tracked by Bloomberg. It touched as low at 3,406.5 in intraday trading, falling past the previous record of 3,377.85 reached last month.