The Chilean peso has gained 8.6% this year, the biggest increase among the six most-traded currencies in Latin America.  During Wednesday trading, however, that number fell, with the peso reaching 595.80 per dollar from 587.85 a day earlier.

That said, pending dollar sales by the Finance Ministry, announced on Feb. 23 as part of an economic stimulus plan, will extend the dollar’s slide during the coming weeks, according to Celfin Capital in Santiago.  “We could reach 550-570 [per dollar],” noted the firm’s head economist, Cristian Gardeweg.