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Colombia’s peso leads emerging markets rout

Friday, October 14, 2016

The Colombian peso slumped the most among major emerging market currencies after weak data from China pushed its peers lower and amid uncertainty over a local tax reform needed to stave off a potential sovereign credit downgrade.

The currency weakened 1.2 percent to 2,933.43 per dollar at 12:07 p.m. in Bogota, ending two days of gains. Year-to-date the currency has strengthened 8.2 percent after a 25 percent plunge last year amid a fall in oil prices.

Source: Bloomberg