Worst Performing Major Currency Might Finally Get a Lifeline
- Policy makers expected to make largest rate hike in a decade
- Copper price rebound, easing Covid rules also support currency
Shoppers at the La Vega Central fruit and vegetable market in Santiago.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
Chile’s peso, the worst performing major currency this month, is about to get some uncharacteristic help from the central bank.
The currency has lost more than 2% in August ahead of presidential elections in November -- the biggest decline among 32 peers tracked by Bloomberg. That has brought its drop in the past four months to about 8.7% -- more than double any other major currency except Peru’s sol.