The dollar rises in Brazil and leads the currency rally in the region

The dollar rises in Brazil and leads the currency rally in the region

Meanwhile, the world’s euro and sterling fell against the dollar on Friday, after polls showed that the slowdown in business activity in the eurozone and the United Kingdom has deepened this month and that economies are likely to enter a recession.

The dollar index, which compares the currency against a basket of six other major currencies, rose just over 1% to its highest level in 22 years.

β€œThe global economy is already going through a prolonged period of significant uncertainty, which is keeping the markets very nervous that see few options other than the dollar as a safe asset to weather the storm in these stormy times,” said foreign exchange trader.

How does the dollar work in the rest of the region’s markets?

The price of the dollar in Chile, Friday, September 23

The Chilean peso fell 2.23% to 963.70 / 964.00 per dollar, with additional pressure caused by a sharp drop in the price of copper, the country’s main export. Meanwhile, the main index of the Santiago Stock Exchange, IPSA, lost 1.34% to 5,231.86 units. Copper prices fell to their lowest level in almost two months on Friday on the strength of the dollar and fears that demand for the metals will be affected by a recession after other increases in interest rates.

The price of the dollar in Mexico, Friday, September 23

The Mexican peso traded at 20.1525 to the dollar, with a loss of 1.11% against the Reuters reference rate on Thursday, as investors feared the arrival of more restrictive monetary policies and fears of a possible global recession.

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The main stock index S & P / BMV IPC, which includes the 35 most liquid companies in the Mexican market, fell 2.17% to 45,326.06 units, on its third consecutive day of losses. The Mexican stock market followed the same pessimistic streak as the rest of the global markets, which provided a poor environment, with stocks hitting two-year lows on Friday.

The price of the dollar in Colombia, Friday, September 23

The Colombian peso fell 1.21% to 4,418 units per dollar, influenced by the global risk aversion environment; While the MSCI COLCAP index on the stock exchange decreased by 1.86% to 1179.26 points.

The price of the dollar in Peru, Friday, September 23

The Peruvian currency, the sol, lost 0.64% to 3.905 / 3.909 units per dollar. While the Lima Stock Exchange index rose 1.77% to 499.86 points.

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