Chilean Peso At Five-year High

The Chilean peso has hit a five-year high against the US dollar, up to 523.20 pesos yesterday. Buoyant copper prices continue to boost exports and drive the currency higher. The peso has risen 13% against the US dollar in the past 12 months, one of the best performing developing market currencies in the world. Analysts believe the currency will continue to appreciate this year in the light of good economic indicators.