Chilean Peso Weakened by Turmoil on Global Markets

The Chilean peso declined today versus the euro as the global equities and the commodity prices dropped, feeling the impact of the banking troubles in Spain and the conflict on the Korean peninsula.
The International Monetary Fund said that Spain is too slow in reinforcing its financial institutions, adding to the concerns about the strength of the European economy. These concerns together with tension between North and South Korea show their negative influence on the markets and on the investors’ risk sentiment, weakening the riskier currencies.
EUR/CLP traded near 673.43 as of 8:30 GMT today after opening at 672.44. USD/CLP traded near its opening price of 546.70.

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