The Chilean currency had a weakening performance today, as the copper, one of the main exports of the South American nation declined, damping demand for the peso.

Chile is the world’s main copper producer, and today, most of metallic commodities dropped, as deposits are rising, causing a less intense demand to correct the price of Chile’s main metal export. Due to copper’s performance, the Chilean currency traded in a one-week low versus the U.S. dollar.

USD/CLP traded at 533.15 as of 18:55 GMT but reached 536.87 hours later, the lowest price in seven days.

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