Chile Peso Strengthens as Data Show Faster-Than-Forecast Growth
Chile’s peso edged higher, its first advance in four trading sessions, after data showed the economy grew faster than analysts forecast in December.
The peso added as much as 0.3 percent before closing at 472.88 per dollar, up less than 0.1 percent on the day.
Chilean economic activity expanded 1.2 percent in December from November on a seasonally-adjusted basis and 4.7 percent from a year earlier. Economists had estimated activity increased 0.5 percent in December from November.
“The economic activity number was better than expected,” said Eugenio Cortes, the head of currency forwards at EuroAmerica Corredores de Bolsa SA. “Markets are recovering today.”
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