Ruble Slide Mimicked in Colombia as Losses Unnerve: Currencies
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As the foreign-exchange market stands transfixed by the ruble’s collapse, there’s another currency whose losses are almost as shocking.
Colombia’s peso is the only major exchange rate other than the ruble to have weakened more than 20 percent since mid-year, tumbling today to its lowest level since April 2009. The cost of options protecting against further declines, relative to those hedging against an advance, climbed this month by the most since June 2013, data compiled by Bloomberg show.