Peso Hits 3,195 per Dollar, Best Since Sept 22 | Colombia Report, Oct 9
The peso closed at 3,194.88 per US dollar, 2.69% stronger on the week, as US yields fell. The COLCAP traded near 2,531 late in the session. The post Peso Hits 3,195 per Dollar, Best Since Sept 22 | Colombia Report, Oct 9 appeared first on The Rio Times .
Colombia's peso surged on Friday, October 9, reaching 3,194.88 pesos per US dollar, a 23.87 peso drop from the official rate of 3,218.75. This marked the first time the currency had reached the 3,100s since September 22. The drop came as US Treasury yields fell to their biggest weekly decline in three months, weakening the dollar and benefiting emerging-market currencies like the peso.
Oil prices also fell, with Brent crude down 1.3% to $102.91 a barrel, and WTI crude down 1.2% to $90.40. Despite the lower oil prices, which typically hurt the peso, the weaker dollar and cheaper imports were the primary drivers of the peso's gain. The US dollar closed at 3,194.88 pesos, trading between 3,184.50 and 3,220, with a volume of $1.022 billion in 1,309 transactions.
The official rate was set at 3,218.75, down 20.13 pesos from Thursday. The Colombian stock index, COLCAP, was at 2,531.15, up 0.21% in the morning session.
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