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Chilean Peso Breaks Another Record on Copper Rise

November 16, 2009 at 19:21 by Jan Baros

Chilean pesoThe main Chilean metallic export provided support for the peso to reach the highest level in 16 months versus the greenback as demand for copper is on the rise after global economies showed further signs of recovery this Monday.

Risk appetite in trading markets remained high this Monday after Japan posted a higher than expected quarterly growth, raising attractiveness for emergent markets assets and providing support for the peso to establish another record high versus the less appealing U.S. dollar, which lost versus most of the main traded currencies today.

USD/CLP traded at 496.55 as of 17:19 GMT from an opening rate of 501.90.

If you have any questions, comments, or opinions regarding the Chilean Peso, feel free to post them using the commentary form below.

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