Colombian Peso Rises on Foreign Investment Outlook; Yields Fall
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Colombia’s peso rose the most among major Latin American currencies amid mounting speculation that a tax cut will lure foreign investors and as companies exchange dollars for the local currency to pay taxes.
The peso appreciated 0.3 percent to 1,759 per U.S. dollar. It touched 1,750.50 on Jan. 2, the strongest intraday level since July 2011, and has gained 2.1 percent in the last month.