The peso jumped 1.2 percent to 1,906.98 per U.S. dollar, from 1,930 yesterday
Colombian Peso Advances Most in a Year on Manufacturing
By Admin Wednesday, January 4, 2012(Bloomberg)—Colombia’s peso rose the most in a year as signs that manufacturing is expanding in the U.S. and China boosted demand for higher-yielding assets.
The peso jumped 1.2 percent to 1,906.98 per U.S. dollar, from 1,930 yesterday. That’s the biggest gain since Jan. 6, 2011. The peso has dropped 0.7 percent in the past 12 months.
A gauge of U.S. manufacturing rose to 53.9 in December from 52.7 a month earlier, according to a report from the Institute for Supply Management today. Fifty is the dividing line between growth and contraction, and economists surveyed by Bloomberg projected the measure would climb to 53.5. In China and India, manufacturing expanded last month, indicating Asia’s fastest- growing major economies have so far withstood the fallout from Europe’s sovereign debt crisis. ...more
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