RIO DE JANEIRO, Aug 8 Latin American currencies
rallied on Thursday after unexpectedly strong data on Chinese
imports improved the outlook for demand for the region's
The region's main currencies posted gains starting at their
markets' open, which came hours after China released data
showing its imports of crude oil and iron ore rebounded from
multi-month lows to record highs last month.
"That's an international move thanks to the Chinese data.
The currency market is excited," said Mario Battistel, a manager
at the currency desk of Fair brokerage in Sao Paulo.
* The Brazilian real initially gained around 1
percent on the Chinese data. It extended its rally after the
Brazilian central bank sold currency swaps, derivative contracts
that emulate an injection of dollars in the futures
* Brazil's central bank sold 8,700 swaps maturing on Nov. 1
and 4,000 swaps expiring on Dec. 2, it said in a statement. It
had initially offered to sell 20,000 swaps for both maturities
* After the swap sale, the real traded 1.4
percent stronger at 2.28 per dollar.
* Mexico's peso gained 0.6 percent to 12.6530 per
dollar, one day after leading losses in the region on concerns
about lack of political support for a proposed energy reform
that could attract sizable foreign investment.
* The Chilean peso jumped 0.9 percent after prices of
copper, the country's main export product, surged over 2
percent to a two-month high on the Chinese data.
Latin American FX prices at 1521 GMT:
Currencies daily % YTD %
Brazil real 2.2800 1.44 -10.53
Mexico peso 12.6590 0.56 1.62
Chile peso 510.9000 0.86 -6.30
Colombia peso 1876.6000 0.18 -5.89
Peru sol 2.7910 0.14 -8.60
Argentina peso 5.5350 -0.09 -11.25
Argentina peso 8.8800 -0.45 -23.65