EMERGING MARKETS-Brazil's real extends slide despite intervention

martes 29 de septiembre de 2015 10:19 GYT

SAO PAULO, Sept 29 (Reuters) - Brazil's real extended its
decline into a third session on Tuesday as traders, concerned
about the outlook for commodities prices and local growth,
shrugged off the central bank's efforts to boost the battered
    Other currencies in the region were little changed, while
stocks moved slightly higher.
    The real strengthened at the open following the central
bank's announcement after Monday's close that it would sell up
to $2 billion in the spot market on Tuesday with repurchase
agreements and hold an unscheduled currency swap auction.
    Still, the real remained near its weakest level on record,
hovering near 4.13 per dollar. 
    "It seems that the Brazilian currency market is no longer
accepting 'more of the same' when it comes to central bank
auctions and is testing the bank for something stronger,"
Jefferson Luiz Rugik, a trader with Brazilian brokerage
Correparti, wrote in a client note.
    Investors have been betting heavily against the real in the
futures market, given that the economy is in recession,
inflation exceeds 9 percent, government finances have
deteriorated sharply and a ratings agency has lowered Brazil's
debt to "junk" status.
    In addition, disappointing economic data from top trade
partner China has weighed on the price of local commodity
exports, putting an additional drag on the real, which has lost
nearly 36 percent of its value against the dollar this year.
    Elsewhere, the Colombian and Mexican pesos  both
remained nearly flat, while the Chilean peso advanced
slightly on higher prices for copper, the country's main
    In equities markets, Brazil's Bovespa stock index 
looked set to snap a seven-session slump, led by shares of the
most widely traded banking and commodities companies, such as
Banco Bradesco SA and state-run oil producer Petroleo
Brasileiro SA, or Petrobras.
    Finance Minister Joaquim Levy said on Tuesday that Petrobras
was taking the right steps to shore up its operations in the
wake of a massive corruption investigation.    
    Key Latin American stock indexes and currencies at 1400 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        775.82    -0.74   -18.27
 MSCI LatAm                  1829.72    -0.75   -32.41
 Brazil Bovespa           44292.6659     0.76   -11.43
 Mexico IPC                 42033.68     0.33    -2.58
 Chile IPSA                  3662.79     0.27    -4.89
 Chile IGPA                 17982.01     0.24    -4.71
 Argentina MerVal                  -        -        -
 Colombia IGBC               9152.78    -0.12   -21.33
 Venezuela IBC              12129.27    -0.06   214.33
 Currencies                           daily %    YTD %
                                       change   change
 Brazil real                  4.1192    -0.28   -35.49
 Mexico peso                 17.0607     0.08   -13.58
 Chile peso                    704.7     0.01   -13.95
 Colombia peso                3120.5     0.00   -23.47
 Peru sol                     3.2351     0.00    -7.92
 Argentina peso               9.4100     0.00    -9.14
 Argentina peso                15.96     0.63   -12.28
 (Reporting by Asher Levine and Bruno Federowski; Editing by
Lisa Von Ahn)