santiago – he Dollar in Chile Experience this Friday with a new refreshmentto remain above the $940 mark in this session. The dollar rose $2.65 to trade at $941.60 Close to closing operations, according to data from Bloomberg.
Hours ago, the exchange rate reached 946.89 Chilean pesos per unit dollar. The US currency thus reached a new high so far in 2023 on the Chilean exchange market, amid a decline in the price of copper and increased tensions in the Middle East.
The Chilean peso is one of the worst performing emerging market currencies this session, beaten only by the Brazilian real, Hungarian forint and South Korean won. The value of the Chilean currency has decreased by -0.27%, while over the past five days it has decreased by -2.43%.
Mario Marcel, Minister of Finance, said in an interview Bloomberg The weakness of the peso in the short term is expected to change the Chilean central bank’s plans to cut interest rates, keeping in mind that any pressure on domestic prices will be relatively small.
Globally, the dollar reversed the initial decline on Friday, following the publication of US inflation data yesterday, which was slightly higher than market expectations. he Dollar indexThe US dollar, which measures the value of the US dollar against a basket of other currencies, rose 0.11% to 106.70 points..
Meanwhile, the price of COMEX copper futures hit a new low today, trading at $3.56 per pound. The new decline occurs after it was learned that inflation in China – the main consumer of the metal – stagnated in September, while exports fell for the fifth month in a row.
On the other hand, oil futures rose due to increasing tensions in the Middle East. The price of a barrel of Brent crude rose by 4.27% to trade at $90.27.
“Beeraholic. Friend of animals everywhere. Evil web scholar. Zombie maven.”