Colombian Peso Surges 19.2% Against Dollar Amid Regional Economic Contrasts
The Colombian peso has emerged as the top performer among 36 major currencies over the past year, gaining 19.2% against the U.S. dollar. The Israeli shekel came in second with a 13.2% increase, followed by the Hungarian forint and South African rand.
On the other hand, six Asian currencies are struggling, including the Japanese yen, which fell 11.3%, and the South Korean won, down 12.6%. The decline is largely attributed to higher energy import costs due to the region's dependence on imported energy.
The data from Deutsche Bank shows that Latin America spans both extremes of the ranking, with a 38.1 percentage-point gap between Colombia and Argentina. While the Colombian peso has appreciated significantly, the Argentine peso fell by 18.9% against the dollar.