Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Chile Peso Gains After International Investors Pare Short Bets

Jan. 29 (Bloomberg) -- Chile’s peso rose after international investors reduced bets against the currency to a 16-month low.

The peso appreciated 0.2 percent to 471.90 per U.S. dollar at the close in Santiago, extending its rally since the end of 2011 to 10 percent, the most among major Latin American currencies tracked by Bloomberg.

International investors in the Chilean peso forwards market had a $1.2 billion short peso position on Jan. 25, the lowest since September 2011, according to data published today by the central bank. A short is a bet an asset will lose value.

“The underlying trend is for appreciation,” said Matias Madrid, chief economist at Banco Penta in Santiago. He said he expects the peso will strengthen beyond 470 in “coming days.”

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.