The Colombian peso climbed 1.8% in a week, in the biggest rise since January.
Colombia’s currency rose 0.5% overnight against the U.S. dollar, making the weekly increase the highest since the beginning of 2011. The jump came as the result of increased investment flows into the Andean nation, Bloomberg reported.
Po Jeng, an analyst at Colombia brokerage firm Interbolsa SA, said that “Risk appetite has improved a lot,” and as a result, “Foreign direct investment into oil and mining has increased significantly.”
The peso now stands at 1,762.30 to the dollar, compared with 1,770.78 on Thursday.