The 1938 South American Basketball Championship was the 6th edition of this tournament. It was held in Lima, Peru and won by the host, Peru national basketball team. 5 teams competed, including Ecuador in their first appearance.
1938 South American Basketball Championship| 6th South American Basketball Championship |
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| Host country | Peru |
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| Dates | 12-22 February |
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| Teams | 5 |
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| Venue | 1 (in 1 host city) |
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| Champions | Peru (1st title) |
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Each team played the other four teams once, for a total of four games played by each team and 10 overall in the tournament.
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| Peru |
61 - 55 |
Argentina |
| Peru |
42 - 36 |
Uruguay |
| Peru |
50 - 47 |
Brazil |
| Peru |
50 - 29 |
Ecuador |
| Argentina |
46 - 39 |
Uruguay |
| Argentina |
60 - 38 |
Brazil |
| Argentina |
57 - 42 |
Ecuador |
| Uruguay |
45 - 30 |
Brazil |
| Uruguay |
40 - 21 |
Ecuador |
| Brazil |
59 - 40 |
Ecuador |