Macroeconomy/Finance

Chile’s peso falls 1.04%, lowest level in 2020

Chile’s peso sank by 1.05% (810.70/811 per dollar) on Monday amid fears about the spread of the coronavirus. The American currency ended the session with a rise of CL$5.60 comparing to Friday after a peak of CL$813. This is was highest level since last November 29, when it touched $ 810.00. “If there is a greater expansion of the coronavirus, the currency pair could perfectly show a greater momentum, especially if a new social unrest in Chile creates less local activity in the coming months”, said Ricardo Bustamante, Head of Trading Studies at Capitaria.

Source: Emol