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Colombian News -
Money, Finance, Economics
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Wednesday, 07 October 2009 23:18 |
BOGOTA (Dow Jones)--The Colombian peso closed Wednesday at its strongest level since August 2008 against the dollar, following other world currencies.
The peso strengthened to 1,889 to the dollar compared with COP1,907.6 on Tuesday. The peso hadn't closed that strongly since Aug. 25, 2008, when it ended at COP1,879.35 to the dollar.
"The dollar is still very weak compared with the world's main currencies," said Francisco Chaves, a market analyst with local brokerage Corredores Asociados. "Additionally, there are clear signs the economy is on its way to recovery, which would justify a stronger peso," he added.
The Colombian IGBC benchmark stock index ended 0.2% lower at 11,353.42 points.
The most-traded shares were from state-controlled telephone company Empresa de Telecomunicaciones de Bogota SA (ETB.BO), which fell 1% to COP1,000.
Shares of Colombia's Grupo Nacional de Chocolates SA (CHOCOLATE.BO) fell 1.2% to COP23,120.
The yield on the benchmark 2020 peso-denominated government bond fell to 8.82% from 8.83% on Tuesday. Bond yields move inversely to prices.
-By Inti Landauro, Dow Jones Newswires;
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Colombian News 
