Chile's Peso Rally Is Driven by Economy, Piñera Says

Fabiola Moura
Bloomberg News
September 22, 2010

Chile’s peso is Latin America’s best-performing currency this quarter because economic growth is outpacing other countries, President Sebastian Pinera said.

Chile’s exchange rate is in its “normal equilibrium,” Pinera said today in a speech to the Council of the Americas in New York. Interest rates in the country are “still very low,” he said.

The peso has risen 11 percent since June 30, the biggest gain among seven regional currencies, as the economy grows at the fastest pace in five years, rebounding from last year’s slump and February’s earthquake, and copper, Chile’s main export, trades near five-month highs. 

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