The Colombian peso (COP) hit a two-month high on Friday due to strong foreign investment.
After appreciating .03% Friday, the COP closed at 1,762.15 per U.S. dollar.
According to business news source Bloomberg, the COP has gained 3.3% in the past three months. This makes the COP the best performing currency among 25 emerging-market currencies tracked by Bloomberg.
A Bogota financial analyst told Bloomberg that “significant flows are coming into Colombia,” and that there’s “strong appetite from foreign investors with exposure to Colombia, given positive fundamentals such as growth and controlled inflation.”
