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Colombia peso approaches 12-week low

Wednesday, August 29, 2012

Colombia’s peso fell toward a 12-week low after the central bank said it will step up dollar purchases to $700 million by the end of September to stem the currency’s gains.

The peso depreciated 0.5 percent to 1,823.17 per US dollar in Bogota after touching 1,831.60 on Aug. 16, the weakest level since June 1.

It pared this year’s rally to 6.3 percent, still the best performance after the Hungarian forint and Chilean peso among all currencies tracked by Bloomberg.

Source: Bloomberg