Chile's peso edged lower in slow trade on Friday as crude oil's price remained near record highs, while stock indexes dipped into negative territory with trade volumes cut by the US Independence day holiday. The peso slipped 0.35 percent to close at 511.00/511.50 per dollar after closing at 509.20/509.70 on Thursday.
The dollar peaked at 525 pesos on Tuesday, its highest level in 10 months, but retreated in following sessions. "Private pension funds, among others, took advantage of the dollar's decline in recent days to buy. On top of that, the peso was affected by high oil prices," one trader said. "But trade amounts were unusually low because of the US holiday."
The central bank on Friday continued with its daily dollar purchases of $50 million on the currency exchange as part of an $8 billion intervention begun in April to curb peso strength after the dollar slumped to 430 pesos in March.
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