Latin America Currencies: Chilean Peso Rises From Five-Year Low

By Drew Benson

Nov. 24 (Bloomberg) -- Chile’s peso rose from a five-year low as the price of copper rebounded.

The currency advanced for the first time in six days after copper for delivery in three months gained as much as 6.9 percent to $3,784 a metric ton on the London Metal Exchange. Chile is the world’s biggest supplier of the metal.

Chile’s peso climbed 0.5 percent to 679.24 per dollar at 8:11 a.m. in New York, from 682.75 at the end of last week. The peso touched 686.57 per dollar on Nov. 21, its weakest level since September 2003.

The yield on a basket of five-year Chilean peso bonds in inflation-linked currency units declined four basis points, or 0.04 percentage point, to 3.47 percent, according to Bloomberg composite prices.

To contact the reporter on this story: Drew Benson in Buenos Aires at abenson9@bloomberg.net