The US dollar is continuing its downward trend, approaching exchange rates recorded just before the outbreak of the conflict between the United States and Iran, according to a report by La Tercera.
In the Chilean Electronic Stock Exchange (BEC), the dollar dropped $6 compared to Monday's close, reaching a value of $887.10. The currency hit a intraday low of $884.
This decline brings the exchange rate close to the $882.10 level seen on the first business day following the US bombardment of Iran in late February. Since the start of the Middle East conflict, the dollar has climbed $15.90, peaking at $916.01 on March 12, 2026.
Copper strength supports Chilean peso
The Chilean peso is strengthening alongside a global decline in the US dollar. Market sentiment has shifted toward optimism regarding a potential end to the hostilities between the United States and Iran, according to Reuters.
Negotiations could resume this weekend following a previous meeting that ended without an agreement. This expectation has reduced the risk premium on global assets.
“The main catalyst was the expectation of a resumption of talks between the United States and Iran, which reduced the risk premium on global assets. In this context, oil retreated and favored the performance of emerging currencies, including the Chilean peso,” said Ignacio Mieres, head of research at XTB, as reported by La Tercera.
The US Dollar Index, which measures the greenback against a basket of major world currencies, fell 0.25%, marking its seventh consecutive day of declines.
Simultaneously, the Chilean peso found support in the rising price of copper. Spot copper prices rose 2.14% to $5.93 per pound on the London Metal Exchange, marking its third consecutive daily gain.
“That movement reflected a lower global interest in dollar-denominated defensive positions,” noted Felipe Sepúlveda, head of analysis for Admirals Latinoamérica, according to the outlet.
Copper futures also saw an increase, rising 1.34% to $6.07 per pound on the Comex exchange.
