# Why Is the Colombian Peso on a Roll Despite a Political Crisis?

> Colombia's peso rose as much as 1.6% on Monday, the strongest gain among major emerging-market currencies, reaching its highest level since August. The rally came as President Gustavo Petro faced a scandal after a former ambassador and campaign chief threatened to reveal how the 2022 campaign was funded. Lower House leader David Racero also said reform discussions would pause until the ruling coalition is rebuilt.

- Date: 2023-06-06 · published 2023-06-06T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/35786-why-is-the-colombian-peso-on-a-roll-despite-a-political-crisis
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

Markets read the political turmoil as reducing the risk that Petro's reform agenda passes, which strengthens the peso. For feed buyers this has little direct effect on grain or meal prices, though a stronger peso lowers the local cost of imported feed inputs.

## Read by commodity

- USDCOP: bearish ▼

## Sources

- bloomberglinea.com: https://www.bloomberglinea.com/english/colombias-leaked-audio-scandal-drives-market-beating-peso-rally/

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