Chilean Peso Drops After Copper Rally
The Chilean peso outperformed most of the main traded currencies as a copper price rally boosted appeal for assets in Chile, which declined this Friday after the metallic commodities failed to extend their gains.
The Chilean currency had a very positive performance apart from this Friday’s slide, as the economy showed signs of improvement according to the nation’s central bank, and the copper, responsible for one quarter of Chilean exports, had an increase on its rates and demand grows globally. In the last day of this week’s session, the copper retreated bringing the peso down as well.
USD/CLP closed this week at 493.95 after trading as low as 490.95 this Friday.
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Earlier News About the Chilean Peso:
- Chilean Peso Rebounds on U.S. Optimism (2009-12-24)
- Chilean Peso Down on Central Bank Statement (2009-11-19)
- Chilean Peso Remains Bullish on Central Bank Statement (2009-11-18)
- Chilean Peso Breaks Another Record on Copper Rise (2009-11-16)
- Chilean Peso Posts Biggest Gains Since June (2009-11-14)