Chilean Peso Goes Up as Demand for Copper Increases

By admin_mm on September 2, 2010

The Chilean peso rose today as the outlook for the exports of the raw materials improved after the US and China reported about the better-than-expected growth of the manufacturing.

The MSCI World Index of stocks climbed as much as 2.8 percent after the US ISM PMI advanced from 55.5 to 56.3 in August. December delivery for copper, the main export of Chile, rose 3.3 percent to $3.481 per pound on the COMEX.

USD/CLP fell from 496.75 to 496.50 today as of 10:04 GMT.

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