Connect to share and comment

Chile's Larrain says recent peso depreciation 'healthy'

By Rosalba O'Brien and Anthony Esposito SANTIAGO (Reuters) - The recent weakening of the Chilean peso is "healthy" and the top copper exporter's economy is among the best-placed in the emerging world to face a withdrawal of stimulus by the U.S. Federal Reserve, Finance Minister Felipe Larrain said in an interview on Thursday.

Argentina peso sinks as foreign purchases curbed

The Argentine peso plunged 3.2 percent Wednesday as the country cracked down on online purchases from abroad in an attempt to stem capital flight and battle dwindling foreign reserves. The sharpest one-day fall in the official exchange rate in years took the dollar over the 7 peso level, compared to just five pesos a year ago, and brought its loss since 2014 began to 8.4 percent. On the black market, the peso sank to a new low of 12 pesos per dollar, as the supply of greenbacks tightened.

Mexico's Pemex posts $7.1 bn loss in 1st 9 months of 2013

Mexico City, Oct 25 (EFE).- Mexican state-owned oil company Petroleos Mexicanos said Friday it posted a net loss of 92.6 billion pesos ($7.1 billion) in the year's first nine months, compared with a profit of 31.4 billion pesos ($2.4 billion) in the same period of 2012. In a conference call with investors, Pemex reported that it registered a net loss of 39.2 billion pesos ($3 billion) in the third quarter alone, a steep drop from the 24.5-billion-peso ($1.9-billion) profit it recorded in July-September 2012.

Peso further slips vs. US dollar

The peso further weakened against the dollar at the end of this week still due to profit-taking. It shed P0.15 to cap the week at 41.27 from the previous day’s 41.12. “There seems to be some profit-taking . Foreign selling is up and not just in the Philippines but most of Emerging Asia,” a trader told PNA.

Chilean exporters concerned over strong peso

A strong Chilean peso has prompted the South American nations' exporters to call for government intervention to stop the surge.Studies show the Chilean peso appreciated most against the U.S. dollar among the world's currencies last year, up 10.49 percent, to the present exchange rate of 470 Chilean pesos against one dollar."The government should have intervened by now," Roberto Fantuzzi, head of the Association of Manufacturing Exporters (AEMC), said Tuesday."It is unacceptable for it to always intervene when it is too late.

Mexico sees strong peso, 4 percent growth in 2014

Mexico's Treasury Department says the peso will end the year with an average exchange rate of around 12.5 to $1, following recent gains. The department had originally predicted an average rate of 12.9 to $1 when it drew up the 2013 budget last year, but the peso has gained against the U.S. dollar.The exchange rate stood at 12.34 to $1 Monday. The department said it is estimating economic growth of 4 percent for 2014, a bit above the projected 3.5 percent growth rate for 2013.
Syndicate content