COP: Peso Set To Strengthen After H218 Dip

• According to Fitch, the Colombian peso (COP) is expected to appreciate modestly in the coming months as oil prices trend higher and real GDP growth picks up.
• Over the longer term, the peso will likely trade sideways as higher energy prices and a narrowing real interest rate differential with the US offset one another.
• Fitch has revised their 2019 average forecast to COP3,172.9/USD, from COP3,010.9/USD previously. 

 

(Source: Fitch