EMERGING MARKETS-Most Latam currencies steady as oil prices rise
(Updates prices) By Bruno Federowski SAO PAULO, April 20 (Reuters) - Most Latin American currencies steadied on Wednesday after oil prices turned positive following a smaller-than-expected U.S. crude inventory build. The Mexican peso strengthened 0.3 percent after earlier rising to 17.199 per dollar, its highest since late March. The Chilean peso strengthened 0.2 percent, hovering near a nine-month high, supported by a four-week high in prices for its top export copper. Oil prices rose 4 percent after the U.S. Energy Information Administration said crude stockpiles rose 2.1 million barrels last week, less than the 2.4 million barrels forecasted and the 3.1 million barrel rise called by the American Petroleum Institute industry group. The Brazilian real weakened after local news outlets suggested Vice President Michel Temer could be struggling to set up an orthodox economic team amid a deep economic rout. "Given the economic crisis, it seems it will not be easy to find someone who is willing to step up to the task," B&T brokerage trader Marcos Trabbold said. A widely expected Senate decision to oust leftist President Dilma Rousseff could put Temer in charge by early May as she faces a prolonged upper-house trial. A central bank decision to once again sell reverse currency swaps, which function like dollar purchases in futures markets, also weighed on the real currency. A senior government official told Reuters on Tuesday the central bank will intervene less in the foreign exchange market as it expects volatility to ease in the coming days. Key Latin American stock indexes and currencies at 2000 GMT: Stock indexes daily % YTD % Latest change change MSCI Emerging Markets 850.39 -0.27 7.38 MSCI LatAm 2251.84 0.11 22.93 Brazil Bovespa 53547.78 -0.3 23.52 Mexico IPC 45650.35 -0.28 6.22 Chile IPSA 3985.07 -0.12 8.28 Chile IGPA 19548.16 -0.09 7.69 Argentina MerVal 13901.86 0.26 19.07 Colombia IGBC 10180.24 1.15 19.10 Venezuela IBC 16115.40 0.05 10.47 Currencies daily % YTD % change change Latest Brazil real 3.5319 -0.13 10.52 Mexico peso 17.2520 0.34 -0.13 Chile peso 659.7 0.20 7.05 Colombia peso 2897.2 -0.04 8.58 Peru sol 3.242 0.22 5.04 Argentina peso (interbank) 14.3400 -1.06 -10.46 Argentina peso (parallel) 14.63 0.68 -2.52 (Reporting by Bruno Federowski, additional reporting by Anna Yukhananov; Editing by Grant McCool and Tom Brown)
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