The effect of the hyperbole in the passage, particularly the phrase "an insomniac rain had been falling since the beginning of the sixteenth century," emphasizes the relentless and oppressive nature of the weather in Bogotá. This exaggeration contributes to a tone of despair and gloom, illustrating the city as a dreary and lifeless place. It also conveys a sense of historic continuity to the city's melancholic atmosphere.
Among the provided answers, "It implies that it rains too much in Bogotá" aligns best with the effect of the hyperbole. This is because it highlights the extreme and consistent nature of the rain, enhancing the overall somber and bleak tone of the passage.