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

Communications

Industry Products

Media Services

Follow Us

Colombia Peso Gains to Five-Month High on U.S. Jobless Rate

Feb. 3 (Bloomberg) -- Colombia’s peso rose to a five-month high after a report showing employment in the U.S. climbed more than forecast while the jobless rate unexpectedly dropped boosted demand for higher-yielding, emerging-market assets.

The peso climbed 0.5 percent to 1,784.50 per U.S. dollar, from 1,793.88 yesterday. Earlier it touched 1,779.88, the strongest since Sept. 2. The currency rose for a fifth straight week, jumping 1.3 percent in the last five days.

“The U.S. jobs number was pretty good and Latin American currencies are reacting positively,” said Patricia Gonzalez, an analyst at Banco de Bogota SA, the nation’s second-biggest bank.

The 243,000 increase in U.S. payrolls in January was the most since April and exceeded all forecasts in a Bloomberg News survey, Labor Department figures showed in Washington. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.

The Colombian currency also advanced as increased dollar holdings in local banks reduced the forward curve, “creating an incentive” to borrow abroad, said Gonzalez.

The yield on the government’s 10 percent peso bonds due July 2024 rose two basis points, or 0.02 percentage point, to 7.36 percent, according to the central bank. The bond’s price fell 0.223 centavo to 120.9920 centavos per peso.

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

To contact the editors 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.