# Colombian Peso ($COP) Up 22% as President Petro Weakens - Bloomberg

> Bloomberg reports the Colombian peso is the top-performing currency in the world this year, having risen about 22% against the dollar. The rally is attributed to high local interest rates and rising crude prices, even as President Petro's government weakens.

- Date: 2023-09-25 · published 2023-09-25T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/34399-colombian-peso-cop-up-22-as-president-petro-weakens-bloomberg
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger peso makes Colombian imports of feed ingredients cheaper in local terms, while oil-linked support reflects energy-wide strength rather than a direct feed supply change.

## Read by commodity

- WTI: bullish ▲
- USDCOP: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2018-01-13 | [Colombia peso boosted by weak dollar and rising oil prices - Colombia News](https://feedsoft.ai/events/67263-colombia-peso-boosted-by-weak-dollar-and-rising-oil-prices-colombia-news.md) | -1.0% | -7.6% |
| WTI | 2020-07-02 | [Latam stocks up; Mexican, Colombian pesos lead FX gains](https://feedsoft.ai/events/52401-latam-stocks-up-mexican-colombian-pesos-lead-fx-gains.md) | -0.6% | +0.0% |
| WTI | 2023-08-20 | [Colombian Peso makes the Strongest Recovery in the World in 2023](https://feedsoft.ai/events/34862-colombian-peso-makes-the-strongest-recovery-in-the-world-in-2023.md) | -1.2% | +12.6% |
| WTI | 2025-03-26 | [Colombian Peso Surges 1.57% Against USD As Oil Climbs And Political Uncertainty Eases](https://feedsoft.ai/events/25891-colombian-peso-surges-1-57-against-usd-as-oil-climbs-and-political-uncertainty.md) | +3.1% | -9.8% |
| WTI | 2024-03-19 | [Currie Says Oil Will Break Above Consensus View on Fed Cuts - Bloomberg](https://feedsoft.ai/events/31102-currie-says-oil-will-break-above-consensus-view-on-fed-cuts-bloomberg.md) | -1.3% | +3.1% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-09-25/colombian-peso-cop-up-22-as-president-petro-weakens

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.