February 12, 2018 / 9:42 PM / 7 months ago

EMERGING MARKETS-Latam currencies firm after last week's sharp fall

 (New throughout, updates prices and market activity)
    MEXICO CITY, Feb 12 (Reuters) - Latin American currencies
firmed on Monday as markets stabilized following last week's
extreme volatility and steep losses.
    Appetite for risk-taking crept back into currency markets,
helping higher-yielding emerging market currencies including the
Colombian peso, which was up close to 2 percent after shedding
more than 3 percent last week.
    "Investors see opportunities in some assets including
(emerging market) currencies at current prices after the massive
selloff last week," said FX strategist Juan Carlos Alderete of
Banorte.
    Mexico's peso currency was up nearly 0.5 percent, and stocks
rose more than 0.5 percent.
    Investors are expecting to see lower inflation when the U.S.
government releases data on Wednesday, which would bode well for
emerging markets, analysts said.
    "An inflation reading below the estimate would be positive
for risk assets, including currencies," Alderete said.
    In Chile, the central bank is expected within 11 months to
raise its benchmark interest rate to 2.75 percent from 2.5
percent currently, according to a monthly poll of 47 analysts
surveyed by the bank and published on Monday. The
country's peso strengthened about 1 percent, and stocks inched
up as well.
    The markets in Brazil, Latin America's largest, were closed
for Carnival celebrations, as were Argentina's.

Key Latin American stock indexes and currencies at 2033 GMT:
    
 Stock indexes                           daily %     YTD %
                             Latest       change    change
 MSCI Emerging Markets         1154.78      1.04     -1.35
                                                  
 MSCI LatAm                    2971.58      0.65      4.39
                                                  
 Brazil Bovespa               80898.70     -0.78      5.89
                                                  
 Mexico IPC                   48044.27      0.51     -2.65
                                                  
 Chile IPSA                    5557.07      0.14     -0.14
                                                  
 Chile IGPA                   28047.82      0.13      0.24
                                                  
 Argentina MerVal             30143.44     -2.83      0.26
                                                  
 Colombia IGBC                11685.48      1.02      2.77
                                                  
 Venezuela IBC                    0.00         0   -100.00
                                                  
                                                          
 Currencies                              daily %     YTD %
                                          change    change
                                Latest            
 Brazil real                    3.2935      0.00      0.60
                                                  
 Mexico peso                   18.6180      0.47      5.81
                                                  
 Chile peso                      599.1      1.03      2.60
                                                  
 Colombia peso                  2889.9      1.61      3.19
 Peru sol                        3.268      0.24     -0.95
                                                  
 Argentina peso                19.9600      0.10     -6.81
 (interbank)                                      
                                                  
 Argentina peso                  20.18     -1.24     -4.71
 (parallel)                                       
                                                  
 
 (Reporting by Sheky Espejo and David Alire Garcia; Additional
reporting by Julia Love; Editing by Jeffrey Benkoe and David
Gregorio)
  
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