Chile’s peso appreciated more than other major Latin American currencies as higher copper prices and lower energy costs boosted the country’s terms of trade.
The peso gained for the first time this week, climbing 0.8 percent to 473.25 per U.S. dollar from 476.83 yesterday.
Copper rose in New York as oil prices fell after an offer to mediate in Libya’s civil conflict. The metal is Chile’s biggest export, while oil and gasoline are its biggest imports.
West Texas Crude for April delivery slid 0.8 percent to $101.42 a barrel. Turmoil in the North African country has driven up the price of oil by 16 percent since Feb. 15, the day before protests started in the Libyan city of Benghazi.
Chile’s central bank said it bought $50 million today at an average of 474.2 pesos per U.S. dollar as part of a $12 billion plan to stem the peso’s gains.
豫公网安备41010502003434号