2023 was a complex year for emerging economies. The weak performance of China's economy, inflationary pressures and high interest rates, among other factors, affected their performance, especially in Latin America. But not everything was so rosy. Some of these countries' currencies showed surprising resilience. Do you know which currency appreciated the most against the dollar in 2023?

ANSWER

The Colombian peso, which showed a 23.11% revaluation in the year, topped Bloomberg's ranking of emerging currencies, followed by the Mexican peso (+13.83%) and the Costa Rican colon (+13.29%).

The region, however, also has one of the worst performing currencies in the world last year: the Argentine peso, which devalued by 77.96%, second only among emerging currencies to the collapse of the Lebanese pound.