The Chilean currency and stock rose sharply on Friday as markets celebrated the dovish tone in President-elect Gabriel Boric’s makeup of his future cabinet.
The Chilean peso led the gains among the currencies of the region and appreciated by 0.74%, 795.70 / 796.00 units per dollar, while the leading index of the Santiago Stock Exchange, the IPSA, climbed 2.22%, to 4,586.04 points, its highest level since the end of November last year.
The Chilean currency was located, in the morning hours, below 800 units per dollar for the first time since November, after Boric announced his next ministerial cabinet in which the appointment of the current head of the Central Bank, Mario Marcel, as future Minister of Finance stands out.
The arrival of Marcel, who has been at the head of the governing body since 2016, was greeted by the financial markets.
“The appointment of people like Marcel comes to strengthen the idea that it is a process of change, but not sudden, but slow. It makes more sense in the sense that radical changes are much more complex”said Miguel Angel López, professor at the University of Chile.