Colombia Peso Falls With Oil as Morgan Stanley Cuts GDP Forecast
- CPI, current account measures to lower growth: Morgan Stanley
- Currency has gained for past four weeks along with oil
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The Colombian peso dropped with oil as Morgan Stanley said that measures to tackle the current account deficit and inflation will end up lowering growth.
The currency, which last week rose to the highest level since November, dropped 0.8 percent to 3,177.58 per U.S. dollar at 11:37 a.m. in Bogota. Oil, the country’s biggest export, fell from a three-month high as Iran said it would raise output to pre-sanctions levels before talking about production limits.