Chilean Peso Weakens After Copper Prices Decline in New York

The Chilean peso weakened following two weeks of gains as copper, the country’s main export, fell.

The peso dropped 0.1 percent to 474.34 per U.S. dollar at 10:44 a.m. in Santiago after earlier rising as much as 0.2 percent.

Copper retreated as much as 0.8 percent in New York as stockpiles monitored by the London Metal Exchange jumped the most in more than four years, creating concern that demand for the metal will remain weak.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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