21 October 2009

Colombia's Peso Drops 2.56% Over Possible Control Measures.

COLOMBIA REPORTS/
Colombia's peso closed down 2.56 percent versus the dollar Tuesday on speculation Colombia would adopt capital control measures similar to the 2% investment levy announced this week by Brasil.
"Now Brasil has taken measures, that has a set a precedent to be more creative. This is about uncertainty over what the bank or the government could come out with," said Camilo Perez, chief economist at Banco de Bogota.
The peso weakened to 1,920.45 from Monday's close of 1.872.6 pesos against the greenback.