A strong trade surplus is boosting the Chilean peso to new heights. The currency was at its highest in seven weeks against the dollar on Thursday. High prices of copper have been the major contributor to the $930 million trade plus. Copper is Chile’s primary export and exports account for more than a third of Chile’s gross domestic product.

The trade surplus is at 3.5 percent currently. Interest rates in the Latin American nation have stayed put for the past two months due to a strong currency. The country’s economy which expanded 6.3 percent last year is expected to continue growing at a rate of 5.5 percent to 6 percent. The peso has gained 9.9 percent in year.