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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