Several LATAM currencies fluctuated against the USD this week. On Tuesday, the Colombian peso hit a one-week low, becoming the weakest currency among emerging markets. The Brazilian real also lost value, dropping 2% in spot trading on Tuesday due to increased volatility and the government releasing more details on a bill to overhaul the fiscal framework. The Argentine peso fell by up to 4.2% in the parallel exchange market after inflation surged in March, and there was uncertainty surrounding the nation’s USD 44 bln program with the IMF. The Chilean and Peruvian currencies were the only gainers in Latin America, with copper prices increasing following the release of data from China showing better-than-expected economic growth in the fourth quarter. The Peruvian sol remained stable with a year-to-date high at 3.7470 per USD, providing immediate dollar support amid low volatility.