US dollar rises to 968.15 Chilean pesos

The US dollar rose by 8 Chilean pesos on Monday compared to its previous Friday close, reaching 968.15 Chilean pesos per unit in Chile. This marks the currency's highest value since August 8, 2025, when it closed at 970 Chilean pesos. During the previous week, the exchange rate climbed 0.90 Chilean pesos, accumulating seven consecutive weeks of gains with a total increase of 47.95 Chilean pesos.

The gain occurred alongside geopolitical tensions after reports indicated that Donald Trump rejected a conditioned proposal from Tehran to reopen the Strait of Hormuz, through which 20% of global crude used to flow. Brent crude climbed 0.9% to 98.32 dollars per barrel after touching 108 dollars earlier in the morning, while WTI crude advanced 0.56% to 92.89 dollars per barrel. Meanwhile, preliminary data from Kpler showed crude exports from major Middle East producers rebounded in September to 12.8 million barrels per day, the highest figure since February.

The US dollar index rose 0.22% to 101.19 points, while the 10-year US Treasury yield stood at 5.232%, levels not seen since 2002. At the same time, the spot price of copper fell 1.33% to 6.597 dollars per pound on the London Metal Exchange, correcting after touching a near-record 6.71 dollars per pound the previous week. Ignacio Mieres, head of research at XTB, noted that the scenario increases inflationary concerns and reinforces expectations of a tighter monetary stance from the Federal Reserve, which supports the dollar and pressures emerging currencies.

Equity markets also declined. In the United States, the S&P 500 fell 0.76%, the Dow Jones dropped 0.67%, and the Nasdaq lost 0.92%. In Chile, the benchmark IPSA index slipped 1.06% to 11,137.23 points. Brokerage Renta4 maintained its IPSA target for 2026 at 11,750 points, with a range between 11,500 points in a pessimistic scenario and 12,000 points in an optimistic one, while projecting 13,500 points for 2027.