Colombia: Colombian peso weakens in November
November 30, 2011
On 30 November, the Colombian peso (COP) traded at 1,919 per USD, which represents a 5.3% nominal depreciation compared to the previous month's position. On a year-on-year basis, the peso depreciated 2.6% versus the USD, while the accumulated depreciation so far this year was 2.7%. The COP followed a similar pattern seen in other emerging market currencies in November as risk aversion returned, amid rising uncertainties about a satisfactory response to the Eurozone debt crisis. That said, the peso moderated its losses as foreign investment flows and domestic corporate operations continued to strengthen.