Emerging markets
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Colombian peso decouples from peers amid January volatility
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Continuing its strong revaluation trend earlier in January—where it led emerging currencies with gains over 4% through January 22—the Colombian peso depreciated 1.36% on January 28, 2026, diverging from appreciating regional peers like the Brazilian real and Mexican peso. Despite the daily drop, it holds a 3.5% monthly gain amid global volatility and commodity rebounds.