Jan. 2 (Bloomberg) -- Colombia’s peso rose for a third day as higher-than-forecast manufacturing in Germany and China buoyed appetite for higher-yielding assets.
The peso rose 0.8 percent to 1,928 per U.S. dollar in the next-day market at 9:53 a.m. in Bogota, according to the stock exchange’s foreign-exchange electronic transactions system, known as SET-FX. With markets closed in the U.S., Colombia’s currency trades in the so-called next-day market, in which payment and delivery are made the following trading day. Colombian markets were closed Dec. 30 for the year-end holiday.
“The peso is following gains abroad,” said Santiago Melo, an analyst at brokerage Alianza Valores SA. Low trading volume is leading to swings in prices today, said Melo.
European stocks gained after a manufacturing gauge based on a survey of purchasing managers in Germany rose to 48.4 in December, beating the initial estimate of 48.1 published on Dec. 15. In China, a manufacturing gauge was at 50.3 from 49 in November, the Beijing-based logistics federation said in a statement yesterday.
The yield on the nation’s 10 percent bonds due in July 2024 fell three basis points, or 0.03 percentage point, to 7.60 percent, according to the stock exchange. The bond’s price rose 0.293 centavo to 118.891
--Editors: Brendan Walsh, Marie-France Han
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