Colombia's peso weakened after the central bank announced it would suspend an intervention aimed at slowing the currency's recent decline.
While the intervention is suspended, the central bank has not ruled our future options to buoy the peso.
The peso has declined more than 8 per cent so far this month, already past its lowest point since early April.
"This announcement eliminates a source of risk when taking on USD/COP positions and should therefore expedite the COP depreciation path," said Nomura Securities strategist Mario Castro.
Read more at Reuters.