The Colombian peso weakened 1.3% at the opening of the session, while yields on local treasury bonds climbed as the rising toll from the Mexican swine flu outbreak sent a wave of panic around the world.
The Colombian peso weakened to 2,320 to the dollar as of 10:30 a.m. from COP2,290 Friday, while the yield on the benchmark domestic paper maturing in 2020 traded at 9.04% as of 10:30 a.m. from 8.988% Friday.
"The Colombian peso as well as many currencies in the region are depreciating as the swine flu can weakens global trade and restricts flow of goods and travelers among countries," said Diego Camacho, head of research at local brokerage Acciones de Colombia.
Colombian health authorities identified 12 people with flu-like symptoms who were recently in Mexico and took samples from them to send to the U.S. for tests.
Gilberto Alvarez, the director of public health at Colombia's health ministry, Sunday said it was unclear whether the 12 being tested are affected by the swine flu outbreak, which has killed as many as 103 people in Mexico.
Nearly 1,400 people in Mexico had been admitted to hospitals with indications that they could be affected by the new virus. Two-thirds of those admitted have been sent home.
The rising death toll from the Mexican swine flu outbreak forced the
United States to declare a public health emergency and other nations to
order border clampdowns. (Dow Jones)
