After several weeks in which the repercussions of the war in Ukraine have hit the prices of fuel and food, and, therefore, the costs of living in America, for the first time there are airs of optimism this month, especially in Latin countries.
(Read: Dollar lost more than 80 pesos this Monday and stood at 4,315 pesos)
With historical barriers of devaluation in currencies such as Argentina and Colombia; the economic crisis in which the Chilean economy was submerged; and the internal complications in Peru, this July 18 there was a small light for the countries to regain ground in economic positioning.
Although the dollar climbed and came to overcome the barrier of the euro for the first time in more than 15 years, this weekend it lost value again by 0.7 percent, meaning gains for emerging markets in South America.
In the first place, the Chilean peso stands out, which rose by 3.09%, reaching a cost of 940.70 pesos per dollar, which, among other things, was also favored by the injection of 25,000 million dollars by the Central Bank of Chile to the market. .
This intervention is demarcated by the minimums that the peso had against the dollar the previous weekfluctuating between 1,045 and 1,046 units for each US currency, registering a historical record and the first great devaluation in the presidency of Gabriel Boric.
In addition, the same weekend there were green numbers in the leading index of the Santiago Stock Exchange, which increased 0.92 percent of units, reaching 4,139.43.
In Colombia, the outlook was also extremely positive, after the movements of the dollar in this country recorded records above 4,600 pesos per unit of US currency.
The local currency gained ground again and stood at 4,310 pesos per dollar, which meant an increase of 1.12 percent; plus the 0.63% that the stock index gained on the stock market.
Mexico, in turn, was another winner, all after the meeting between Joe Biden and Andrés Manuel López Obrador, presidents of the United States and Mexico, respectively, who discussed, among other things, the inflation that was affecting the region.
For the country led by López Obrador, a gain of 0.63 percent was recorded against the dollarwhich once again gives the Mexican economy a break, before the publication of results for companies for the second quarter, with which this country hopes to attract greater foreign investment.
Added to these positive numbers are the positive conclusions of the meeting between leaders, where more migratory aid for Mexicans was estimated, in addition to new energy aid from Mexico to reduce fuel costs in the southern United States.
In contrast, the outlook in Argentina is not so encouraging, because although the losses were “minor”, the cost of living and the depreciation of the Argentine peso against the dollar continue to rise.
Compared to the green numbers of its South American neighbors, Argentina reported a drop of 0.52 percent of its peso against the dollar, reaching 128.91 pesos per unit, increasing the crisis that the new economy minister, Silvina Batakis, must face.
INTERNATIONAL WRITING
*With information from Reuters
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