Colombian Peso Pares Stellar Rally as Central Bank Steps In

The Colombian peso is on track for its biggest drop in three months after the central bank unexpectedly paused rate hikes and announced a program to build up dollar reserves,...

By Nicolle Yapur and Beatriz Amat · Bloomberg Markets

The Colombian peso is on track for its biggest drop in three months after the central bank unexpectedly paused rate hikes and announced a program to build up dollar reserves, signaling that the currency’s rally has gone too far.