Colombian Peso Roars Back to a Five-Year High vs Dollar

The Colombian peso reached a five-year high against the dollar, falling to 3,475 pesos per dollar, its lowest since January 2021. The peso is the most-revalued emerging currency over the past year, rising 19.4 percent, reversing its previous status as the worst-performing currency in its group. Strong remittances are cited as a key driver.