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 strengthens to 2-month record

by Adriaan Alsema June 11, 2010
785

Colombia news - peso

The Colombian peso strengthened against the dollar to a two-month record on Thursday on the rising flow of foreign direct investment.

The peso closed at 1,925.95 Colombian pesos to the dollar on Thursday from COP1,942 on Wednesday. The peso hadn’t closed that strong since April 8, when it had ended at COP1,922.75.

The peso Thursday followed the Brazilian real, which also got stronger. But the demand for peso is a not a one-day event since demand is rising as foreigners are eager to invest in Colombia, said David Aldana, a market analyst with local brokerage Ultrabursatiles.

“There is a strong flow of dollars into Colombia as foreign direct investment is rising, as is foreign appetite for stocks and bonds,” Aldana said.

Additionally, the Colombian government, which has borrowed a lot abroad, will need to change those dollars into pesos to pay for its local bills and investors are anticipating the government sales, Aldana said.

On the equity market, the IGBC stock index ended almost unchanged, at 12,273.20 points. The Colcap index rose 0.1% to 1,446.34 points.

The most-traded stock was oil company Pacific Rubiales Energy, which rose 1.6% to COP41,500. Preferred shares of the country’s largest bank, Bancolombia SA, fell 1.5% to COP23,420.

The yield on the benchmark Colombian peso-denominated government bond, or TES, maturing in 2020, fell to 7.932% from 7.95% on Wednesday. (Inti Landauro / Dow Jones)

Colombia pesoeconomy

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 GDP and GNI

  • Inflation

  • Foreign trade

  • 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