Colombian Peso Advances Most in Two Months on Manufacturing

Colombia’s peso rose the most in two months as signs that manufacturing is expanding in China and speculation factory output increased in the U.S. boosted demand for higher-yielding assets.

The peso climbed 0.7 percent to 1,916.57 per U.S. dollar at 9:23 a.m. in Bogota, from 1,930 yesterday, heading for its biggest one-day gain since Oct. 27.

A U.S. report due at 10 a.m. is forecast to show manufacturing grew at the fastest pace in six months. In China and India, manufacturing expanded last month, indicating Asia’s fastest-growing major economies have so far withstood the fallout from Europe’s sovereign debt crisis.

The yield on the nation’s 10 percent bonds due in July 2024 fell three basis points, or 0.03 percentage point, to 7.59 percent, according to the stock exchange. The bond’s price rose 0.222 centavo to 118.987.

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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