Latin American currencies were trading modestly higher in early trading on Wednesday, after a couple of weeks of losses, but investors remained cautious ahead of policymakers’ comments. monetary policy in the United States and in Europe this week.
* Dealers also digested economic data from China, where export growth slowed in August, reviving downside risks for that economy amid recession fears in the United States and Europe.
* For the moment, the currencies of the region moved away from the behavior of the euro and the pound sterling that weakened against the US dollar.
* The Chilean peso gained 0.69% to 882.90/883.20 units per dollar, a day after the Central Bank applied a sharp hike in the economy’s key rate. Meanwhile, the main index of the Santiago stock market, the IPSA, fell 1.05% to 5,548.93 points.
* Chile’s central bank agreed on Tuesday to raise the benchmark interest rate by one percentage point to 10.75%, above market expectations, as part of its strategy to counteract inflationary pressure.
* The Colombian peso strengthened 0.64% to 4,452.40 units per dollar, while in the stock market, the benchmark MSCI COLCAP index fell 0.26% to 1,223.93 points.
* The Mexican peso appreciated 0.45% to 20.0269 units per dollar; while the main stock index S&P/BMV IPC , which includes the 35 most liquid companies in the local market, lost 0.62% to 45,620.50 points.
* In Brazil, the real rose 0.09% to 5.2480 per dollar, although the Bovespa stock index fell 2.17% to 109,763.77 points.
* The Peruvian currency, the sol, gained 0.17% to 3.891/3.893 units per dollar. Meanwhile, the benchmark of the Lima Stock Exchange gained 0.22%, to 492.67 points.
* In Argentina, the peso lost 0.21%; while the leading Argentine index S&P Merval added 1.08% to 138,798.37 due to a persistent disarmament of positions due to taking profits and the weakness of external markets.
Quotes at 1516 GMT
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MSCI Latin America
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