Chile’s Peso Breaks Lower Again As IPSA Hits Fresh Records

Key Points

• USD/CLP traded near 869 after sliding to an intraday low around 866.
• The dollar index stayed soft near 98.19, keeping pressure on the greenback.
• The IPSA surged to 11,507.7, powered by retail, banks, and real estate names.

Chile’s peso extended its January rally into Friday’s early hours, with USD/CLP around 868.9 on the feed shown in your charts.

The move kept the pair at fresh lows not seen since late 2023, and it reinforced a simple market narrative. When global policy noise rises, capital prefers countries that still signal discipline.

The backdrop remained dollar-negative. The dollar index futures traded near 98.19, after falling sharply earlier in the week. That matters for Chile because a weaker dollar amplifies commodity strength and improves local risk appetite.

Locally, traders have focused on three forces. First, official dollar sales earlier in the week helped accelerate the drop. Second, foreign positioning against the peso has been unwinding after a long period of skepticism.

Third, metals remain the fundamental tailwind, with investors linking Chile’s earnings outlook to copper and lithium strength.

Your charts show a market that is directionally clear, but technically stretched. On the four-hour chart, USD/CLP sat near 868.9 with RSI around 22.6, an extreme oversold reading. The daily RSI was about 28.6 and the weekly RSI about 23.5.

Momentum indicators stayed negative across all three timeframes. That combination often invites consolidation, even if the broader trend remains lower. The first support is 866.1, then the mid-860s. Resistance begins near 876–880, then 887–893.

Chile’s equity tape moved the other way. The IPSA jumped 2.25% to 11,507.7, with a strong intraday range and a clear risk-on feel. Yet the technical picture is also stretched.

Daily RSI sat near 79.7, weekly RSI near 86.4, and the four-hour RSI near 74.7. Momentum is positive, but pullbacks can turn abrupt at these levels.

The day’s leadership was concentrated and visible.

Top Winners (Stocks)

• Mallplaza +6.50%
• Banco Santander Chile +5.54%
• Banco de Chile +4.05%
• Forus +3.46%
• Parque Arauco +3.40%

Top Losers (Stocks)

• CMPC -1.80%
• Las Condes -1.14%
• Embonor-B -0.88%
• Enel Chile -0.79%
• SalfaCorp -0.78%

Most Traded By Value

• LATAM Airlines
• Banco de Chile
• SQM-B
• Cencosud
• Falabella

This is part of The Rio Times’ daily coverage of Chilean markets and Latin American financial news.

For context on regional markets, see Brazil’s Ibovespa for the same session.

Also tracking regional peers: Colombia’s COLCAP closed the same session.