Colombia’s Currency Advances on Dollar Repatriation Speculation
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Colombia’s peso climbed to its highest level in a week on speculation companies will repatriate dollars to pay local taxes.
The peso appreciated 0.1 percent to 1,778.27 per U.S. dollar, its strongest level on a closing basis since Feb. 1. The currency has dropped 0.6 percent this year as the government and central bank announced increased dollar purchases to stem a rally that sent the peso to a 17-month intraday high on Jan. 2.