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South American currencies ended the week on the high as they gained ground on the American dollar on Friday after market nerves saw markets dip a day earlier.
In Colombia, the peso ended the day at 1,976 against the dollar, compared to 1989.9 a day earlier. The Brazilian real and the Mexican peso were also on the up on Friday.
Friday’s rise for the Colombian peso followed a two percent fall a day earlier.
Meanwhile, the Central Bank of Brazil bought and undisclosed amount of US dollars for BRL1.904 on Friday.
On Thursday, the Brazilian markets were hit hard as investors sold off. Losses reached almost five percent as the market lost a significant proportion of the notable gains this year.
On Friday, worries over the market even prompted a number of Brazilian companies to postpone operations on both domestic and overseas markets.
23:05
Posted on Jul-29-2007
