Markets
Colombian peso hits 3yr high
BOGOTA : The Colombian peso on Thursday hit its strongest level against the US dollar since July 2008 due to expectation
BOGOTA: The Colombian peso on Thursday hit its strongest level against the US dollar since July 2008 due to expectations of further monetary easing in the United States.
The Colombian currency hit a low of 1,747.25, breaking under the key 1,750 level seen by analysts as a trigger line for further intervention from the central bank.
The peso has strengthened 8.7 percent so far this year, supported by the dollar's weakness and expectations of billions of dollars in foreign direct investment.
On Thursday, the greenback fell across the board after suggestions by the US Federal Reserve that it could provide more stimulus if the economy weakened further.
Copyright Reuters, 2011
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