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RBS Recommends Betting Chile Peso to Gain Against U.S. Dollar

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May 14 (Bloomberg) -- The Chilean peso’s sell-off last week means it is time to buy the currency, according to Royal Bank of Scotland Group Plc.

Investors should go long two-month Chilean peso non-deliverable forwards with a target of 473.1 per U.S. dollar, Flavia Cattan-Nasluasky and Felipe Hernandez, analysts based in Stamford, Connecticut, wrote today in a note to clients. Investors should exit the trade if the forwards weaken to 494 per dollar, they said.

The peso fell 0.9 percent to 491.53 per dollar as of 8:42 a.m. in Santiago.

To contact the reporter on this story: Sebastian Boyd in Santiago at sboyd9@bloomberg.net

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