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Bloomberg data shows that the exchange rate stood at $ 776.97 at the end of operations, which represents a fall of $ 1.89 compared to Thursday’s close.
The last session before citizens go to the polls to decide if the country will have a new Constitution ended up on the right foot for the Chilean peso.
Bloomberg data shows that the exchange rate was $ 776.97 at the end of operations, which represents a drop of $ 1.89 compared to yesterday’s close. With this, the currency crossing scored its third consecutive day down.
With this, the cross of currencies accumulates a low of more than $ 26 from the most recent high that marked on October 15, when it exceeded $ 800. This is its lowest level in more than four weeks.
Also, if you consider the week that just ended, the local currency was the best performer among its emerging peers and the second in the world.
At an international level, there is a weakening of the US banknote at a general level. The Dollar Index – which contrasts it with a basket of hard currencies – scores a drop of 0.10%, heading to the low of more than two years that marked at the end of August.
In prices, according to market operators, a base scenario is already internalized in which Sunday’s vote leaves the field of approval victorious, but what could cause volatility in the short term is with what level of preferences that option wins.
Within the possible scenarios handled by the market, a landslide victory could put pressure on risk assets, since it would represent a greater probability of further changes with respect to the current Constitution, which leaves the mood more loaded towards uncertainty.
Of course, a factor that has played in favor of the Chilean peso in recent weeks is the growth that the price of copper has had. Although the industrial metal suffered a slight decline of 0.09% on the London Metal Exchange that left it at US $ 3.1205 per pound today, it has appreciated more than 4% so far in October.
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