Chilean Peso Remains Bullish on Central Bank Statement

The Chilean currency managed once again to break a record this Tuesday after the nation’s central bank confirmed that it will remain the interest rates in the country at a record low for the next semester, improving demand for peso-priced assets.

The peso has been having a more than great week as virtually all domestic and international events favored the Chilean currency. Apart from the national central bank statement regarding low interest rates, the copper rates, extremely influential to the peso price, are climbing significantly, setting the peso to the highest level versus the U.S. dollar since July 2008.

USD/CLP closed today at 493.70 from an opening rate of 496.55.

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