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Latam currencies weaken as oil slumps again
Shoaib Ur Rehman
02 Feb, 2016
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![](https://i.brecorder.com/images/2016/02/latin-american-currencies.jpg">SAO PAULO: Latin American currencies weakened on Tuesday as fading expectations of a deal to cut global oil production drove crude prices down for a second day in a row.</P><P>Oil prices had rebounded last week on hopes of a deal between OPEC and Russia to cut output. A global supply glut and concerns over the demand outlook have kept crude prices near 12-year lows.</P><P>The Colombian peso slumped almost 2 percent, while the Mexican peso fell 0.9 percent following a local market holiday on Monday.</P><P>)