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EMERGING MARKETS-Latam currencies flat as Brazil real gains
June 24, 2013 / 9:07 PM / 4 years ago

EMERGING MARKETS-Latam currencies flat as Brazil real gains

RIO DE JANEIRO, June 24 (Reuters) - Brazil's real rose for a
second straight session on Monday while other Latin American
currencies were little changed as a recovery in U.S. Treasury
prices suggested global markets were stabilizing after a recent
selloff.
    Investors fled emerging markets last week after Federal
Reserve chief Ben Bernanke signaled the bank could taper its
stimulus program later this year and shut it down by mid-2014.
The Fed's bond-buying program has provided a steady source of
dollars seeking higher returns in emerging markets for the past
several years.
    On Monday, however, comments from Federal Reserve Bank of
Dallas President Richard Fisher saying the Fed will be running
an accommodative policy even if it reduces stimulus seems to
have helped investor sentiment. 
    "To a certain extent, he is giving a different
interpretation to what markets understood from Bernanke's
remarks," said Luciano Rostagno, chief strategist with WestLB
bank in Sao Paulo.
    * Brazil's real  closed 0.8 percent stronger,
also supported by a central bank auction of traditional currency
swaps scheduled for early on Tuesday. 
    * The swap contracts, which emulate the sale of dollars in
the futures market, were offered when the real was already
gaining against the greenback. "I believe the central bank took
advantage of recent currency gains to further boost the real
tomorrow," said Glauber Romano, a currency trader with Intercam
brokerage in Sao Paulo.
    * Mexico's peso was little changed at 13.2951 per
dollar. The peso ended slightly higher on Friday after five
consecutive sessions of losses.
    * Chile's peso edged 0.1 percent lower, trimming
most of its early losses as Treasuries prices rebound.   

    Latin American FX prices at 2055 GMT: 
    
 Currencies                           Daily  YTD pct
                                        pct   change
                            Latest   change  
 Brazil real                2.2261     0.80    -8.36
                                             
 Mexico peso               13.2906    -0.04    -3.21
                                             
 Chile peso               512.0000    -0.10    -6.50
                                             
 Colombia peso           1941.0000    -0.16    -9.02
                                             
 Peru sol                   2.7820    -0.07    -8.30
                                             
 Argentina peso             5.3600    -0.19    -8.35

 Argentina peso             8.0000     7.13   -15.25

0 : 0
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