Chilean Peso in September slumps 10%, and copper slides 24%
President Jose De Gregorio prepared to change rates at any time
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The peso’s 11% slump in September, the biggest since October 2008, trails the 24% fall in the price of copper as commodities entered a bear market on concern global growth is slowing. Copper accounts for more than half of Chile’s exports.
“The peso could fall further as the threat of a breakup of the euro-zone moves copper lower, or if the central bank cuts interest rates on lower growth,” Leonardo Suarez,
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The peso’s 11% slump in September, the biggest since October 2008, trails the 24% fall in the price of copper as commodities entered a bear market on concern global growth is slowing. Copper accounts for more than half of Chile’s exports.
“The peso could fall further as the threat of a breakup of the euro-zone moves copper lower, or if the central bank cuts interest rates on lower growth,” Leonardo Suarez,
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