Colombian Peso Rallies Toward Key Technical Level as Oil Climbs
- Oil, country’s main export, rallied Monday as local mkt closed
- Crude continued climb to a one-month high on Tuesday
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Colombia’s peso posted the biggest gain in emerging markets as trading resumed after a holiday and as oil, the country’s principal export, gained to a one-month high.
The peso strengthened 0.9 percent to 2,902.25 per dollar in Bogota, putting Colombia’s currency within 1.1 percent of the key technical level near 2,870. The currency has repeatedly approached that mark in recent months and then retreated.