11 de febrero de 2015 / 15:33 / en 3 años

EMERGING MARKETS-Brazil's real extends fall, crosses 2.87 mark on retail data

SAO PAULO, Feb 11 (Reuters) - The Brazilian real 
dropped more than 1 percent on Wednesday on disappointing
monthly retail sales data, dragging the embattled currency
further past 10-year lows.
    Other Latin American currencies weakened as well, with the
Colombian and Mexican pesos  hit by a decline in oil
prices. Equities markets were broadly lower, with the MSCI Latin
American stock index sinking to its lowest level
in nearly two months.
    Brazil's real fell as low as 2.8750 per dollar on Wednesday
after data showed that retail sales declined at the sharpest
pace on record in December, capping their weakest year since
    Ongoing concerns about the deterioration of Brazil's
economy, combined with expectations of higher U.S. interest
rates, have contributed to the real's roughly 6 percent fall in
    Brazil's inflation expectations continue to climb, while
economic growth forecasts increasingly point to another
recession in Latin America's largest economy this year.
    Investors are wary that the economic slowdown could loosen
the government's commitment to making the fiscal adjustments the
country is believed to need to ward off a credit downgrade,
which could lead to a sharp outflow of portfolio investments.
    Part of the real's recent losses also are due to stop-loss
operations triggered by the currency's decline, traders said.
    Elsewhere in Latin America, Mexico's peso fell to its
weakest level since March of 2009, partly weighed down by
disappointing industrial output data.
    Lower oil prices also contributed to the currency decline,
but more sharply in Colombia, where the peso fell by the most in
nearly two weeks. Petroleum is Colombia's main export.
    Brazil's Bovespa stock index fell slightly, though shares of
railway operator America Latina Logistica SA surged
after antitrust regulator Cade approved its takeover by Rumo
    Key Latin American stock indexes and currencies at 1521 GMT:
 Stock indexes                        daily %    YTD %
                             Latest    change   change
 MSCI Emerging Markets        959.33    -0.78      1.1
 MSCI LatAm                  2516.57    -2.09    -5.77
 Brazil Bovespa             48151.79    -0.74    -3.71
 Mexico IPC                 42216.48    -0.98    -2.15
 Chile IPSA                   3911.7     0.16     1.58
 Chile IGPA                 19057.64     0.13     0.99
 Argentina MerVal           9005.859    -0.12     4.98
 Colombia IGBC              10601.52    -0.86    -8.88
 Peru IGRA                  13542.45    -0.08    -8.46
 Venezuela IBC               3494.42        0    -9.44
 Currencies                           daily %    YTD %
                                       change   change
 Brazil real                  2.8675    -1.14    -7.32
 Mexico peso                 15.1216    -1.12    -2.50
 Chile peso                    629.5    -0.68    -3.67
 Colombia peso               2419.04    -1.56    -1.28
 Peru sol                      3.096    -0.39    -3.78
 Argentina peso               8.6675     0.06    -1.36
 Argentina peso                 13.1     0.61     6.87

 (Reporting by Asher Levine and Bruno Federowski; Editing by
Paul Simao)

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