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Chile Peso Falls as Copper Retreats on China Demand Concern
May. 19, 2011 12:04PM PST
Base Metals Investing Bloomberg reports that Chile’s peso plunged against the U.S. dollar.
Bloomberg reports that Chile’s peso plunged against the U.S. dollar.
The market news is quoted as saying:
Copper, which accounts for about half of Chile’s exports, lost as much as 0.9 percent in New York after Hong Kong said it may ask some banks to set aside more reserves, fueling concern that China will take additional steps to slow inflation and economic growth. China is Chile’s biggest copper buyer.
