Peace talks with Colombia’s EMC guerrillas to begin...
Human rights prosecutors attacked in northern Colombia
Colombia’s judicial branch thrown offline in major cyber...
7 years into peace process, Colombia has strategy...
Colombia’s estimated cocaine production reaches new record high
Colombia’s president wants end to sanctions on Venezuela
Colombia’s ranchers federation threatens to mobilize over land...
Court orders arrest of Colombia’s former Congress president
Colombia’s intelligence agency assassinated presidential candidate: prosecution
Colombia’s former army chief indicted for 130 extrajudicial...
  • 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

Peso nears three-week high on dollar inflow bets

by Adriaan Alsema June 8, 2010
944

 

Colombia news - peso

Colombia’s peso on Tuesday rose, nearing a three-week high, on bets foreign direct investment into oil and mining will boost dollar inflows into the South American country.

Colombia’s peso strengthened 0.2 percent to 1,962 per U.S. dollar at 11:21 a.m. New York time, from 1,965.60 yesterday. The currency earlier reached 1,957.45. It climbed to 1,953.95 on June 3, its strongest level since May 14. Colombian markets were closed yesterday for a national holiday.

“Speculation of increasing company flows continues to be the biggest driver in the peso,” said David Aldana, head analyst at Bogota-based brokerage Ultrabursatiles SA. The peso jumped 6.7 percent in the last 12 months, the best performance among the six most-traded currencies in Latin America.

Colombia will attract about $10 billion in foreign direct investment this year, Trade Minister Luis Guillermo Plata has said. The nation received $7.2 billion of foreign direct investment in 2009 after a record $10.6 billion the previous year, according to the central bank.

The country’s peso bonds fell as concern the European sovereign-debt crisis will slow global growth hurt demand for higher-yielding, emerging-market assets, according to Aldana.

The yield on Colombia’s benchmark 11 percent bonds due July 2020 rose one basis point, or 0.01 percentage point, to 7.94 percent, according to Colombia’s stock exchange. The bond’s price fell 0.085 centavo to 120.752 centavos per peso.

Colombia pesodollar

Contribute

Trending

  • Colombia’s judicial branch thrown offline in major cyber attack

  • Human rights prosecutors attacked in northern Colombia

  • Peace talks with Colombia’s EMC guerrillas to begin in October

For patrons

Downloads for patrons

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

  • Twitter
  • Email
  • Rss

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


Back To Top
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