Colombian Peso the most devaluated currency in the world

After the Colombian government withdrew yesterday its tax reform bill and the Minister of Finance, Alberto Carrasquilla, presented its resignation, the Colombian peso (COP) became the most devalued emerging currency this year by falling 10.21% against the US dollar. Over the past five days alone, amid social unrest and violent protests nationwide, the Colombia currency has devaluated by Co$ 99.95 against the US Dollar, amounting to a total of Co$384.13 this year. Yesterday it hit a six month high of Co$ 3,813.64 per one USD.

Source: La República