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Mexico provided tax benefits for the producers of James Bond (here played by Daniel Craig). (Photo: Mexico City Government)
Wednesday, April 8, 2015
Trade Talk

Latin America Currencies Fall, James Bond in Mexico

LatAm currencies depreciate, James Bond in Mexico, supply chain resilience, Dominican baseball players, Venezuela toilet paper crisis.

BY LATINVEX STAFF

Latin American currencies depreciated an average of 4.1 percent against the US dollar in the first quarter, according to a Latinvex analysis of data from XE currency converter.

Of 13 Latin American currencies analyzed, 11 depreciated, while only two appreciated.

Brazil and Colombia lead the way in depreciations. The Brazilian real depreciated 19.5 percent to 3.18 per US dollar, while Colombia’s peso depreciated 9.3 percent to 2,597 per US dollar.

Peru’s sol saw the third-largest depreciation, with a 6.7 percent depreciation to 3.1 per US dollar.

Mexico’s peso depreciated 3.4 percent to 15.24 per US dollar, which was under the Latin American average.

Costa Rica and Bolivia were the only two countries that saw their currency appreciate in the first quarter. The Costa Rican colon appreciated 1.2 percent to 533.16 per US dollar, while the Bolivian Boliviano appreciated 0.14 percent to 6.9 per US dollar.

 


Latin America: Weaker Currencies

Latin American currencies per 1 US dollar

Country

Currency

4Q14

1Q15

D/A

Brazil

BRL

2.66

3.18

-19.50%

Colombia

COP

2,376

2,597

-9.30%

Peru

PEN

2.98

3.1

-6.70%

Uruguay

UYU

24.31

25.67

-5.59%

Argentina

ARS

8.47

8.82

-4.10%

Mexico

MXN

14.74

15.24

-3.40%

Chile

CLP

605.66

624.41

-3.10%

Honduras

HNL

21.02

21.35

-1.57%

Nicaragua

NIO

26.6

26.92

-1.20%

Dom. Rep.

DOP

44.3

44.71

-0.93%

Guatemala

GTQ

7.6

7.65

-0.66%

Bolivia

BOB

6.91

6.9

0.14%

Costa Rica

CRC

539.34

533.16

1.15%

Average

-4.21%

D/A=Depreciation (decrease), appreciation (increase) compared with US dollar

Ecuador, El Salvador and Panama have dollar as legal tender.

Venezuela not included as it has separate exchange rates for different sectors.

Sources: XE (rates), Latinvex (changes) 


 

JAMES BOND IN MEXICO CITY

Producers of the latest James Bond movie have been filming in Mexico City. After initial complaints that businesses were hurt by the filming, city officials revealed that producers agreed beforehand to pay 225 businesses up to $2,500 a day in compensation for closures, and most of those had to shut down only for a few hours. Meanwhile, Hotel occupancy in the historic center rose 30 percent during the filming and the number of visitors to the district was up 53 percent, AP reports.

The film’s producers were offered $20 million in tax incentives to film in the country, The Guardian reports. (See also Governments Boost LatAm Film Production).


SUPPLY CHAIN RESILIENCE

Costa Rica is Latin America’s best country and Venezuela worst when it comes to resilience to supply chain disruption, according to the latest FM Global Resilience Index from FM Global.

The index is designed to help executives evaluate and manage supply chain risk and is based on nine key drivers of supply chain risk that are grouped into three categories: economic, risk quality and supply chain factors.

 


Supply Chain Resilience: Best & Worst

LA Rk

Gl Rk

Country

Score

1

38

Costa Rica

58.1

2

41

Uruguay

56.5

3

45

Chile

54.7

4

59

Brazil

47.8

5

66

Mexico

44.8

6

73

Peru

41.5

7

77

Argentina

40.7

8

91

Panama

36.1

9

92

El Salvador

36.1

10

93

Guatemala

35.9

11

97

Ecuador

35

12

103

Bolivia

33.3

13

105

Paraguay

32.8

14

110

Colombia

30.6

15

125

Honduras

21.7

16

126

Dom. Rep.

19

17

127

Nicaragua

18.8

18

130

Venezuela

0

Sources: FM Global; Latinvex (LatAm overview)


 

DOMINICAN STARS

The total wages of Dominican players in the US Major League Baseball franchise this year is $423 million, according to Diario Libre.

The Dominican Republic now has 82 players in the US Major League Baseball franchise, by far the largest number of any other foreign nationality, according to Dominican media. 


BRING YOUR OWN TOILET PAPER

The toilet paper crisis in Venezuela is widely known, but now it’s so serious that even hotels have run out, Fusion reports.


 


© Copyright Latinvex 



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