Colombian peso slumps as oil prices tumble

The Colombian peso lost seven months of gains against the U.S. dollar, Tuesday, trading above the 3,000 peso benchmark as increased supply by several key oil producing nations hammered crude futures.

Currencies of leading oil exporting nations led currency declines across Latin America with the Colombian peso slipping 2.2 percent to its lowest point in 2017 and shares in Colombia’s Ecopetrol also dropped nearly 3 percent.

Source: The City Paper Bogotá