Colombia’s peso gained to the strongest level in almost six months as oil, the country’s biggest export, rose.
The peso climbed 0.1 percent to 1,817.17 per U.S. dollar at 11:59 a.m.
The peso climbed 0.1 percent to 1,817.17 per U.S. dollar at 11:59 a.m.
New York time from 1,819.43 yesterday.
The currency touched 1,812.40 yesterday, its strongest level since Oct. 21.
The peso has advanced 2.9 percent in the past month, the second best performance after the Brazilian real among the six major Latin American currencies.
“Strong fundamentals point to a stronger peso,” said Daniel Lozano, head analyst at Serfinco SA brokerage in Bogota. “FDI is rising, oil above $100 a barrel also implies significant flows, and bets are for higher interest rates which also attracts funds from abroad.”
The yield on the benchmark 11 percent bonds due July 2020 rose 2 basis points, or 0.02 percentage point, to 8.12 percent, according to Colombia’s stock exchange.
The bond’s price fell 0.153 centavo to 118.179 centavos per peso.
The currency touched 1,812.40 yesterday, its strongest level since Oct. 21.
The peso has advanced 2.9 percent in the past month, the second best performance after the Brazilian real among the six major Latin American currencies.
“Strong fundamentals point to a stronger peso,” said Daniel Lozano, head analyst at Serfinco SA brokerage in Bogota. “FDI is rising, oil above $100 a barrel also implies significant flows, and bets are for higher interest rates which also attracts funds from abroad.”
The yield on the benchmark 11 percent bonds due July 2020 rose 2 basis points, or 0.02 percentage point, to 8.12 percent, according to Colombia’s stock exchange.
The bond’s price fell 0.153 centavo to 118.179 centavos per peso.
Posts
No comments:
Post a Comment
Thanks for your visit, hope you enjoy the content, we expect to see you again soon.