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 Touches Three-Week High as China Growth Buoys Risk

Don't Miss Out —
Follow us on:

Dec. 3 (Bloomberg) -- Colombia’s peso touched a three-week high as a report showing an increase in Chinese factory output boosted demand for higher-yielding assets and helped drive up the price of oil, the Andean nation’s top export.

The currency appreciated as much as 0.3 percent to 1,810.18 per dollar in intraday trading, the strongest level since Nov. 8. It closed little changed at 1,815.30. The peso has rallied 6.8 percent this year.

“There’s a positive tone in international markets,” said Camilo Perez, the head analyst at Banco de Bogota SA. “People have been worried about growth, and the data from China was somewhat better, so that encourages optimism.”

China’s official Purchasing Managers’ Index increased to 50.6 in November, while a private gauge of manufacturing climbed to 50.5, separate reports showed. A reading above 50 indicates expansion. Oil rose 0.2 percent to $89.09 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 19.

The yield on Colombia’s 9.25 percent peso-denominated bonds due in May 2014 was little changed at 4.95 percent, according to the central bank.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net

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