Coins fall and bags recover after Fed rate cut

Lima Peru. By María Cervantes – (Reuters) – Latin American currencies fell and exchanges rose on Wednesday, a day after the US Federal Reserve decided to unexpectedly lower its interest rate in an emergency measure in the face of the advance of the coronavirus.
* The rate cut fueled fears that the extent of the virus outbreak could be worse than expected and that regional central banks could do the same.
* On the day, the dollar It also recovered lost ground when economic data from the United States were known.
Read: Gold price closes stable after Fed rate cuts
* In Mexico, the currency traded at a 0.4% decline against the Reuters reference price on Tuesday. In early operations, the currency operated in positive territory and gained more than 1.3% until 19,1876 units.
* The benchmark S & P / BMV IPC stock index won a
2.2% This is his best day since mid-December.
* In Brazil, the real fell almost 1.5%, its biggest decline in four months, leaving aside the Central Bank’s announcement that it will intervene in the currency swaps market on Thursday, as expectations have risen more interest rate cuts on the way. Meanwhile, the Bovespa stock index advanced 1.6%.
Read: Dollar price today March 4 at closing: Coronavirus hits the peso
* In Argentina, the wholesale peso closed with a decrease of 0.08%, 62.3575 / 62.36 per dollar after central bank interventions at both ends of the market. The S&P Merval stock index closed with an improvement of 3.46%, to 37,243.36 units as provisional closing, driven by the rise in roles of the energy and financial sectors.
* The Colombian peso, meanwhile, reversed the trend of the beginning of the day and closed with a loss of 0.46% to 3,478 units per dollar. In both the COLCAP index
The local stock market advanced 2.11% to 1,544.53 points, driven by titles from the oil and financial sector.
* Meanwhile, the Chilean peso closed Wednesday’s operations with a 1.16% decline, at 816.60 / 816.90 units per dollar. Meanwhile, the IPSA index of the Santiago Stock Exchange rose 1.79% to 4,366.36 points.
Read: Government destroys investment: Coparmex
* In Peru, the sun reduced initial gains to close with a marginal advance of 0.09%; while the reference of the Lima stock market rose 1.43%.
(Report by María Cervantes in Lima, Froilán Romero in Santiago, Nelson Bocanegra in Bogotá, Walter Bianchi in Buenos Aires, Edited by Javier Leira and Manuel Farías)
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