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Colombian peso slumps to low as firms grab dollars

Friday, July 24, 2015

Colombia’s peso tumbled 1.5%, the second-most among emerging markets, prompting some companies in the country to rush to buy dollars before the exchange rate gets even worse.

The peso fell to 2,834 per dollar at the close in Bogota, the weakest since November 2003. Among developing countries, only Brazil’s real had a bigger drop Thursday, at 2%.

Source: Bloomberg