Petro’s first moves to restructure Colombia’s government
Petro and Duque meet over transition of power...
Colombia confronts former FARC chiefs with suffering kidnapping...
Colombia hears former guerrilla chiefs over mass kidnappings
Petro’s quest for a majority in Colombia’s Congress
Colombia’s ELN guerrillas reiterate call to resume peace...
Colombia begins transition of power after elections
The peaceful revolution of Colombia’s “nobodies”
Historic victory for Gustavo Petro in Colombia’s elections
Colombia’s election observers say voters received tainted ballots
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Colombian peso at highest level since August 2008

by Toni Peters April 21, 2011

Colombia news - peso

The Colombian peso reached a high of 1,780.27 to the U.S. dollar in New York on Wendesday, its highest level since August 2008, Bloomberg reported.

Much of the peso’s rise has been attributed to rising foreign investment in the oil and mining industries as well as companies repatriating profits from abroad in order to pay taxes. Companies are due to pay taxes in Colombian between April 8 and April 25 this year.

Foreign direct investment increased by $3.23 billion in the year from March 2010, 86% of which went into oil and mining, according to trade balance figures from the central bank.

Portfolio inflows have also risen to $825 million between March 2010 and March 2011 compared to a net decrease of $21 million the year before, according to the central bank.

The currency has increased by 5.1% so far this month making the peso currently one of the best performing world currencies tracked by Bloomberg.

Earlier this week, the head of Colombia’s central bank announced that the country is on track to grow 5.5% this year, 1% more than was originally forecast.

Colombia pesodollarhighNew York City

Trending

  • Petro’s quest for a majority in Colombia’s Congress

  • The peaceful revolution of Colombia’s “nobodies”

  • Colombia hears former guerrilla chiefs over mass kidnappings

Related articles

  • Colombia’s peso sinks to record low amid unrest and economic uncertainty

  • Colombia’s peso hits all-time low: US dollar breaks through COP3500 mark

  • US dollar hike raises concern over inflation in Colombia

  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top