# Colombia’s Political Scandal Stokes Market-Beating Peso Rally - Bloomberg

> Colombia's peso jumped as much as 1.6% on Monday, the biggest gain among major emerging-market currencies, to its highest level since August. The move followed political turmoil around President Petro, whose government is struggling to contain fallout from the scandal. The peso is now the best-performing developing-nation currency this year.

- Date: 2023-06-05 · published 2023-06-05T12:00:00.000Z
- Category: macro · region Colombia · magnitude low
- Page: https://feedsoft.ai/events/35787-colombia-s-political-scandal-stokes-market-beating-peso-rally-bloomberg
- Commodities: [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

The rally reflects investors seeing less risk to Petro's reform program, which lifts the currency. The impact on feed commodity prices is minimal, though it can change import costs for Colombian feed buyers.

## Read by commodity

- USDCOP: bearish ▼

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-06-05/colombia-s-political-scandal-stokes-market-beating-peso-rally

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