Thứ Hai, Tháng Sáu 5, 2023
HomeBusinessChilean peso leads decline among most Latin American currencies

Chilean peso leads decline among most Latin American currencies


Most currencies of Latin America

Slippage against the US dollar strong on Tuesday amid


expectations of continued tightening of Federal policy

Reserves, with Chilean peso falling as copper falls


Dollar hits two-month high after hawking

Opinions from Fed officials have led investors to take positions for

the possibility of further interest rate hikes.

The MSCI Index of Latam Coins Drops


Chilean peso fell 0.8% against greenback

copper prices fell to six-month low after speculators

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increased bearish position due to recession and recession worries

demand in top metal consumer China, hurting the currency of

largest exporter of red metal in the world.

Among others, the Mexican peso fell 0.5%.

Investor sentiment towards currencies has been affected

recently after the government took over part of the railway

owned by Grupo Mexico, while analysts have also

warning of a hit to the peso, the best performing Latin American currency

currency in 2023, from a possible recession in the United States later this year.

“We have sounded the alarm about the crowded location

in MXN because the currency has been favored by investors because

for a while, connect this with the possibility of a liquidity squeeze

may happen after the debt ceiling is resolved


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deadlock,” Olga Yangol, head of EM research and strategy at

Agricultural Credit.

Representative of President Joe Biden and Congress

Republicans concluded another round of debt ceiling negotiations on Tuesday

There is no sign of progress as the loan deadline increases

The limit or risk of default is marked closer.

Furthermore, a Reuters poll showed that country’s title

Inflation may slow down in the first half of May to the lowest level

for 19 months, supporting the view of a prolonged decline in

consumer prices and that the central bank will keep

preparedness rate holds.

Peruvian sol up 0.2%, Brazilian real

fell 0.1% and the Colombian peso gained 1.4%.

Meanwhile, Argentina’s economic activity grew 1.3% a year.

annual basis in March, the country’s official statistical agency

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Latin American stocks fell 0.4%, with

Mexican stocks were hit the hardest.

However, Brazilian stocks are expected to continue to drift

higher this year in earnings for mixed companies, with food exporters

feel the pain from slower global growth and banks

advantage of high interest rates, a Reuters poll showed.

Elsewhere, Hungary’s central bank made a one-day critical cut

deposit interest rate from 100 basis points to 17%, in line with

expect and mark possible “gradual” cuts,

began the first such policy easing cycle in


Major Latin American currency and stock indices at 1940 GMT:

Latest daily % stock index


MSCI Emerging Markets 977.49 -0.59

MSCI LatAm 2271.38 -0.39

Brazil Bovespa 110046.28 -0.15

Mexico IPC 53078.06 -0.73

Chile IPSA 5703.01 0.19

Argentina MerVal 339576.69 0.176

Colombia COLCAP 1124.22 0.03

Daily latest currency %


Real Brazil 4,9730 -0.06

Mexican Peso 17.9694 -0.50

Chilean Peso 802.6 -0.83

Colombian Peso 4462.5 1.42

Peru sol 3,675 0.17

Argentine Peso (interbank) 234,9000 -0.23

Argentine Peso (Parallel) 487 0.62

(Reported by Amruta Khandekar, Siddarth S and Ankika Biswas in

Bangalore; Editing by Paul Simao and Alistair Bell)


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