January 17, 2013 / 12:55 PM / in 5 years

Chile President Pinera says looking closely at peso's strength

SANTIAGO, Jan 17 (Reuters) - Chilean President Sebastian Pinera said on Thursday the government was looking closely at the peso currency’s strength, which has gained more than 8 percent against the dollar since the beginning of last year.

Pinera added that the central bank had the tools to intervene in the currency exchange market, but it had to look at the peso’s long-term fundamentals versus the U.S. dollar.

The peso, which ranked among the strongest foreign currency performers last year against the U.S. dollar among 152 currencies tracked by Reuters, has been boosted by Chile’s brisk economic growth and healthy prices for top export copper .

It was trading at around 473.30 per dollar early on Thursday, up around 0.3 percent from Wednesday.

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