Chilean Peso Beats Risk Aversion on GDP Growth

The Chilean peso was the best performing currency among the commodity-linked ones in foreign-exchange markets this Friday as a positive economic report in the South American nation allowed the peso to gain versus multiple main currencies including the U.S. dollar, despite strong risk version in trading markets today.

After a report published today indicating that the Chilean economy expanded almost 4 percent in December compared to the same month one year earlier, the peso reverted a negative trend versus the U.S. dollar that lasted during most of the week and advanced despite strong risk aversion that affected the copper rates, Chile’s main commodity export.

USD/CLP closed at 541.60 from an opening rate of 544.18 this Friday.

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