Colombia’s peso led global declines as oil, the nation’s biggest export, tumbled on concern that a slowdown in China’s economic growth will reduce demand for the commodity. The peso plunged 1.5 percent to a record low 3,107.65 per dollar at the close in Bogota, extending its weekly loss to 3.7 percent. The daily drop was the biggest among 152 currencies tracked by Bloomberg. Crude oil tumbled to below $40 a barrel in New York for the first time since 2009. “This really is panic mode,” Andres Munoz, the head currency trader at Corp. Financiera Colombiana, said from Bogota. “Investors are getting out of emerging markets” including Colombia’s local peso bonds. One-month implied volatility on options for the peso, reflecting projected shifts in the exchange rate, increased Friday to the highest level since June 17. The currency’s swings may lead the central bank to announce currency measures to ease swings […]