SAO PAULO/MEXICO CITY: A gauge for Latin American currencies rose for the first time in 2021 on Tuesday, as hopes of recovery were buoyed by improving economic data from Brazil and Mexico, while a recent rally in the dollar cooled. The MSCI's index for Latin American currencies rose 0.5%, with Mexico's peso leading the advance.

The peso rose 0.6% against the dollar a day after data showed the Mexican manufacturing sector's recovery in November.

The Brazilian real gained 0.5%, after sliding to a two-month low against the dollar on Monday. The Chilean peso was among the few currencies which were lower on Tuesday, falling 0.7%, pressured by weakening copper prices.