The dollar in Brazil shoots up, leading the escalation of the currency in the region

Meanwhile, the euro and sterling fell against the dollar on Friday, after surveys showed that the slowdown in activity in the euro-zone and the United Kingdom deepened this month and that economies were likely to slide into recession.

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

“The global economy has been going through a long period of high uncertainty, which maintains high tension in markets that see few options other than the dollar as a safe haven to weather the storm in these stormy times,” said a currency trader.

How the dollar operates in the rest of the region’s markets

Price of the dollar in Chile, Friday, September 23

The Chilean peso fell 2.23% to 963.70/964.00 per dollar, driven by a sharp drop in the price of copper, the country’s main export. Meanwhile, the Santiago Stock Exchange’s leading index, the IPSA, lost 1.34% to 5,231.86 units. Copper price fell to its lowest level in nearly two months on Friday on the back of dollar strength and fears that the recession will impact demand for metals after further rises in interest rates.

Price of the dollar in Mexico, Friday, September 23

The Mexican peso traded at 20.1525 per dollar, down 1.11% against the Reuters reference price on Thursday, as investors fear the advent of more restrictive monetary policy and fears of a potential global recession also mount. .

The major 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 the third straight day of losses. The Mexican stock market followed the same pessimistic line as the rest of the world markets, which have seen a bleak environment, with shares hitting a two-year low on Friday.

Price of the dollar in Colombia, Friday September 23

The Colombian peso depreciated 1.21% to 4,418 units per dollar, impacted by global risk aversion; while in the stock market, the MSCI COLCAP stock index devalued 1.86% to 1,179.26 points.

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. Meanwhile, the Lima Stock Exchange’s reference yielded 1.77% to 499.86 points.

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