Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Colombia Peso Gains Most in Month on Bets ECB to Act on Crisis

Don't Miss Out —
Follow us on:

Dec. 1 (Bloomberg) -- Colombia’s peso rose the most in a month amid speculation the European Central Bank may take more steps to keep the euro region’s debt crisis from spreading.

The peso rose the most since Nov. 4, climbing 0.6 percent to 1,932.50 per U.S. dollar at 3:13 p.m. New York time from 1,944.15 yesterday. Today’s gain paired the currency’s drop in the last three months to 6.2 percent, the worst performance among 25 emerging-market currencies tracked by Bloomberg.

ECB President Jean-Claude Trichet yesterday said the central bank’s bond-buying program is “ongoing” and “we will see what we decide,” refusing to rule out an expansion of purchases.

“Easing concern on Europe is helping push demand for risk including Colombian assets,” said Carlos Ramos, an analyst at Interbolsa SA, Colombia’s biggest brokerage.

The yield on the government’s benchmark 11 percent bonds due 2020 fell nine basis points, or 0.09 percentage point, to 7.50 percent, according to Colombia’s stock exchange. The bond’s price rose 0.690 centavo to 123.342 centavos per peso.

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.