Bloomberg reports Chile’s peso rose as copper prices and European stocks rallied.
The market news is quoted as saying,
Copper, which accounts for half of Chile’s exports, surged 1.8 percent to $4.47 per pound on the New York Mercantile Exchange, hitting a three-month high.
Chile’s central bank paid an average of 462 pesos per U.S. dollar for $50 million as part of a $12 billion effort to limit the peso’s gains, according to data posted on the bank’s website.
| Updated December 2015
Get Our Expert Guide to Copper Investing FREE!Download this FREE Special Report, From LME Copper to Copper ETFs: Understanding Today’s Copper Price for Investing in Copper.