SAO PAULO: Chile's currency firmed against a steady dollar on Monday on the country's plans to gradually relax lockdown restrictions, while Mexico's peso extended declines to a third day on declining oil prices and rising number of Covid-19 cases there.
Chile's peso rose as much as 0.6% after government officials presented the plan on Sunday as the infection rate of the novel coronavirus disease improved in some regions of the country. Chile has so far reported 330,000 confirmed cases and more than 8,500 deaths related to Covid-19.
In Mexico, deaths from the disease rose to 39,184, while the total number of cases stood at 344,224 as of Sunday. The peso slipped for a third straight session as oil prices fell amid worries over the pace of the global spread of the pandemic.
Brazil's real gave up early gains to trade flat. Stocks in Brazil rose 0.3% to their highest in over four month, driven by gains in the communication sector. Telecom stocks TIM Participacoes and Telefonica Brasil rallied after they teamed up with Mexico's America Movil to make an offer for the mobile unit of bankrupt Brazilian carrier Oi Group.
Other regional stock market indices were flat to lower, tracking a choppy session on Wall Street. Argentina's peso continued its slide into record low territory. The country on Friday confirmed its highest daily coronavirus case load after easing restrictions. Colombian markets were closed for a local holiday.
Comments
Comments are closed for this article.