The Chilean peso struggles to break the 900 pesos per dollar mark despite strong economic indicators, like a rise in copper production and industrial output.
August 2024 saw copper production in Chile reach 470.50 thousand tons, exceeding the previous month, reflecting the country’s crucial role in the global mining landscape.
Although industrial production surged by 5.2% y-o-y in August, driven by mining growth, this positive trend has not alleviated pressure on the Chilean peso.
An increase in the unemployment rate to 8.9% in August, combined with influences from China-linked assets, continues to limit the Chilean peso's recovery.
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