The Colombian peso is among the most undervalued Latin American currencies. According to data at the close of last Friday, the currency ended the week at $4,590.54, which is the second highest price in its history after the one registered on July 13, which was $4,627.46.
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This behavior means that so far this year, the Colombian peso hasalready accumulate a devaluation of 21.4%which represents a worse performance than its peers in the region.
It is worth mentioning that the national peso presents a fall against the US dollar of 4.33% during September, while if taken as a reference since the new government of Gustavo Petro began on August 8, the currency’s decline reaches 5.84%.
Looking at the rest of the region, the devaluation of the national peso is only surpassed in the year the bolívar of Venezuela, with a fall during 2022 of 78%according to REfinitiv data, and also the Argentine peso, which accumulates a drop of 43.47% in this period.
(Also: The bolívar lost half its value after a year of reconversion).
The Chilean peso also stands out for its fall against the dollar, of 13.57%, while, for its part, the Peruvian sol has been revalued in 2022 by 0.26%, the Mexican peso by 1.69% and the Brazilian real 2.78%.
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