Colombia’s peso heads for a seventh straight week of gains, its longest winning streak since October, on speculation increased foreign investment will boost dollar inflows into the South American nation, Bloomberg reports.
The peso climbed 0.6% this week to 1,877.18 per U.S. dollar at 11.01AM New York time, from 1,888.60 on July 2. The currency strengthened during seven straight weeks in the period ended October 16, 2009. The peso has jumped 8.9% this year, the best performance among all currencies tracked by Bloomberg. It gained 0.5% today.
The yield on Colombia’s benchmark 11% bonds due July 2020 rose two basis points to 7.68%, according to the Colombian stock exchange. The price of the bond fell to 0.12 centavo to 122.688 centavos per peso. (Andrea Jaramillo, Bloomberg)
