Colombia’s peso rose for a fourth week, its longest winning streak since September, on increased foreign investment and speculation funds from abroad will continue to flow into the South American country.
Colombia’s peso has climbed 1 percent so far this week to 1,800.5 per U.S. dollar at 11:22 a.m. New York time.
The currency is up 0.2 percent today, and has advanced 5 percent in the past month, the second-best performance after the Brazilian real among the six major Latin American currencies.
“We’ve seen a mix of flows both from the energy sector as well as portfolio investment,” said Andres Munoz, head currency trader at financial services holding company Corp. Financiera Colombiana, known as Corficolombiana.
“The government has been working to attract investment from abroad needed for infrastructure development, and while it may take more measures to stem gains in the peso, the strengthening trend will remain as those flows continue coming.”
The yield on the nation’s 11 percent bonds due July 2020 rose 1 basis point, or 0.01 percentage point, to 8.16 percent today, according to Colombia’s stock exchange.
The bond’s price fell 0.060 centavo to 117.937 centavos per peso.
Colombia’s peso has climbed 1 percent so far this week to 1,800.5 per U.S. dollar at 11:22 a.m. New York time.
The currency is up 0.2 percent today, and has advanced 5 percent in the past month, the second-best performance after the Brazilian real among the six major Latin American currencies.
“We’ve seen a mix of flows both from the energy sector as well as portfolio investment,” said Andres Munoz, head currency trader at financial services holding company Corp. Financiera Colombiana, known as Corficolombiana.
“The government has been working to attract investment from abroad needed for infrastructure development, and while it may take more measures to stem gains in the peso, the strengthening trend will remain as those flows continue coming.”
The yield on the nation’s 11 percent bonds due July 2020 rose 1 basis point, or 0.01 percentage point, to 8.16 percent today, according to Colombia’s stock exchange.
The bond’s price fell 0.060 centavo to 117.937 centavos per peso.
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