Dollar strengthens considerably, surpassing 500-peso mark for the first time this year

SANTIAGO.- The dollar opened with a strong gain on Friday but then slipped after information was released concerning the United States inflation rate in May, which was better than expected -- lowering possibilities of a hike in interest rates within the country.

At 8:30 AM today, the spot exchange rate reported values of $505.30 buy and $505.60 sell (the highest value so far this year), indicating a 1.6% increase in the United States currency compared to the $497.20 and $497.50 values reported at closing on Thursday.

Nevertheless, after the announcement was made revealing a 0.6% inflation rate for the month of May in the United States, which was slightly above what had been predicted by analysts; the peso began to cut losses.