SANTIAGO, March 11 Chile's peso currency
fell on the tumbling price of copper to close at its
weakest level in nearly five years on Tuesday, just as President
Michelle Bachelet assumed her second term in office.
Copper, Chile's main export, hit its lowest level since July
2010 on the London Metal Exchange on Tuesday, under pressure
from rising inventories of the metal and slow demand.
The peso weakened 0.78 percent in the local currency market
to finish at 574.2/574.5 per dollar, the currency's worst close
since April 30, 2009, when it traded at 581.5/581.8 per dollar.
So far this year, the peso has weakened 8.38 percent against
the dollar, following its 9.01 percent depreciation in 2013.
Chile's weakening currency is one of several challenges,
from a prickly Congress to slow economic growth, that Bachelet
faces at the start of her new term.