The Ibovespa advanced, reducing a third weekly drop, as slower-than-forecast Brazilian inflation offset concern that the Federal Reserve will reduce U.S. stimulus that has buoyed emerging-market assets.
Chile’s peso posted its biggest three-day gain since August as the fastest inflation in 2013 supported the case for a halt in interest-rate cuts and helped the currency extend its rally from a two-year low.
Mexico’s peso advanced, heading for the biggest weekly gain in Latin America, as lawmakers from the country’s two largest political parties signaled they are almost finished drafting a bill to overhaul the energy industry.
Brazil’s real rallied the most among emerging-market dollar counterparts as central bank President Alexandre Tombini said the intervention program to support the currency and curb import prices will be extended into 2014.
Bevan Rosenbloom has left his position as a Latin America credit analyst at Citigroup Inc., according to a person familiar with the matter who asked not to be identified because the information is private.