Colombia Peso Heads to Best 30-Day Gain Since 2009 as Oil Climbs
- Crude set for fourth weekly rise as U.S. fuel demand advances
- Peso advance is 2nd-biggest among emerging-market currencies
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Colombia’s peso is headed toward its best 30-day rally since 2009 amid a rebound in crude oil, the country’s biggest export.
The peso strengthened 2.1 percent to 3,160.01 per dollar Friday, the most among major emerging-market currencies after the Russian ruble. In the past month, the currency has climbed more than 8 percent, the largest increase since June 2009. Oil headed for the longest run of weekly gains since May amid signs of rising U.S. fuel demand and easing crude production.