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The Chilean peso has rallied 3.4% in April, the only currency to gain against the dollar that month, after a 10% drop in the first quarter. Copper, which makes up just over half of Chile's exports, is up about 20% since February 9.
The Peruvian sol is also benefiting from the metal's rally.
Copper-driven gains in the peso and sol reflect improved terms of trade for Chile and Peru, but the move has limited direct effect on grain or oilseed prices. The story is mainly relevant to regional currency risk for feed importers.
mining.comApr 25, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
