RIO DE JANEIRO, Aug 2 Latin American currencies
rallied on Friday after disappointing U.S. jobs data supported
hopes the Federal Reserve would continue to pump dollars into
the economy at the current pace, supporting investors' appetite
for emerging-market assets.
The Fed's bond-buying program injects $85 billion per month
into the U.S. economy but part of that money usually flows to
emerging markets as investors seek higher returns.
Hopes the Fed will keep the current pace of purchases going
longer increased after a report showed 162,000 non-farm jobs
were created in the United States in July, less than the 184,000
expected by economists.
* The Brazilian real gained 0.8 percent to
2.2830 per dollar after sliding to as much as 2.3130 earlier,
its weakest intraday level in more than four years.
* The real was also supported by a central bank sale of
35,100 traditional currency swaps - derivative contracts that
mimic an injection of dollars in the futures market.
* The swap auction by the Brazilian central bank was
announced when the real was underperforming peer emerging market
* The Mexican peso rallied 1.5 percent to 12.6635 per
dollar, its strongest in a week.
* The Chilean peso gained 0.45 percent,
underperforming its Latin American peers as the price of copper
, the country's main export, declined slightly in
London.Latin American FX prices at 1635 GMT
Currencies daily % YTD %
Brazil real 2.2785 0.96 -10.47
Mexico peso 12.6535 1.55 1.67
Chile peso 512.8000 0.47 -6.65
Colombia peso 1888.7500 0.56 -6.50
Peru sol 2.7870 0.25 -8.47
Argentina peso 5.5150 -0.05 -10.92
Argentina peso 8.7700 -0.34 -22.69