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The Colombian peso was the best performing EM currency in the fourth quarter rising 11.62% against the dollar. Above, the capitol in Bogota.

Emerging market currencies rebounded strongly against a weak dollar in the fourth quarter of 2020 with the Colombian peso leading the way.

Currency volatility rose to a rate of 1.67%, the highest quarterly rise since the opening quarter of the year, as a weakened U.S. dollar helped boost the values of a broad mixture of currencies across the globe, according to data from the Currency Volatility Index (CVI).  For the quarter, the dollar was down 4.21%, the largest quarterly decline since CreditPulse began tracking the currency in 2015.