Colombia’s peso advanced for a
second day as a $700 billion U.S. bailout plan for the financial
industry boosted appetite for emerging-market assets.
Colombia’s peso gained 0.6 percent to 2,039.5 per dollar,
from 2,050.9 yesterday at 10:18 a.m. in New York, according to
the Colombian foreign-exchange electronic transactions system,
known as SET-FX.
The currency soared 6.3 percent on Sept. 19, its biggest
jump in at least 13 years, after U.S. officials proposed to take
troubled assets off the balance sheets of financial institutions
in a bid to end the worst credit crisis since the Great
Depression.
The yield on Colombia’s benchmark 11 percent bonds due in
July 2020 rose 6 basis points, or 0.06 percentage point, to
11.92 percent, according to Colombia’s stock exchange. The
bond’s price fell 0.335 centavos to 94.214 centavos per peso. (Bloomberg)