By Bruno Federowski
SAO PAULO, Nov 28 Latin American currencies
strengthened on Monday as crude prices rebounded, supporting
demand for higher-risk assets.
Oil prices gained 2.5 percent after falling as much as 2
percent ahead of a meeting of major producers on Wednesday.
Currencies from oil-heavy economies, such as the Colombian
and Mexican peso, rose sharply.
The Brazilian real tagged along as investors held off
making risky bets ahead of a central bank meeting and gross
domestic product figures later this week.
Risk appetite drove other emerging markets higher, with the
South African rand strengthening 2 percent after rating agencies
affirmed the country's investment grade credit rating.
Brazilian stocks inched up, though gains were
limited by concerns that a political scandal could delay the
country's fiscal adjustment.
One of Brazilian President Michel Temer's closest aides
resigned on Friday following allegations he pressured the
culture minister to approve a property development plan,
unsettling investors with the prospect of renewed political
turmoil in Latin America's largest economy.
Key Latin American stock indexes and currencies at 1500 GMT:
Stock indexes daily % YTD %
MSCI Emerging Markets 861.87 0.71 7.76
MSCI LatAm 2307.59 0.5 25.49
Brazil Bovespa 61607.68 0.08 42.12
Mexico IPC 45221.96 -0.3 5.22
Chile IPSA 4213.57 0.07 14.49
Chile IGPA 21035.68 0.05 15.89
Argentina MerVal 17168.64 -1.24 47.05
Colombia IGBC 9623.62 -0.03 12.59
Venezuela IBC 28079.56 0.25 92.48
Currencies daily % YTD %
Brazil real 3.3993 0.37 16.11
Mexico peso 20.5365 0.80 -16.10
Chile peso 676.5 0.43 4.91
Colombia peso 3151.5 0.75 0.56
Peru sol 3.415 0.18 -0.03
Argentina peso (interbank) 15.5400 0.00 -16.46
Argentina peso (parallel) 16.04 -0.06 -11.03
(Editing by Jeffrey Benkoe)