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Jan 14 2021, 3:30 PM
January 13 2021, 5:38 PM
January 14 2021, 3:30 PM
(Bloomberg) Chileâs peso tumbled the most in the world, starting the year in volatile fashion as many had forecast though not for any of the reasons people expected.
(Bloomberg) Chileâs peso tumbled the most in the world, starting the year in volatile fashion as many had forecast though not for any of the reasons people expected.
The currency dropped 2.1% to 741.66 per dollar, bringing its decline this year to 4%. That makes it the worst-performing of 24 emerging-market currencies tracked by Bloomberg.
The reason is simple. Chileâs central bank announced Wednesday that it plans to boost its foreign reserves, buying $40 million a day for more than a year until its holdings reach 18% of gross domestic product. That should ultimately provide some stability in a year that will see two elections and the drafting of a new constitution following the worst social unrest in more than a generati
Full article Chile’s central bank announced it plans to boost its foreign reserves, buying US$ 40 million a day, until its holdings reach 18% of gross domestic product.
Chile’s peso tumbled on Wednesday, starting the year in a volatile fashion as many had forecast. The currency dropped 2.1% to 741.66 against the dollar, bringing its decline this year to 4%.
That makes it the worst performing of 24 emerging-market currencies tracked by
Bloomberg. The reason is simple. Chile’s central bank announced on Wednesday that it plans to boost its foreign reserves, buying US$ 40 million a day for more than a year until its holdings reach 18% of gross domestic product.
Chilean Peso Leads Losses as Central Bank Boosts Reserves
Bloomberg 1/13/2021 Justin Villamil
(Bloomberg) Chile’s peso tumbled the most in the world on Wednesday, starting the year in volatile fashion as many had forecast though not for any of the reasons people expected.
The currency dropped 2.1% to 741.66 against the dollar, bringing its decline this year to 4%. That makes it the worst performing of 24 emerging-market currencies tracked by Bloomberg.
The reason is simple. Chile’s central bank announced today that it plans to boost its foreign reserves, buying $40 million a day for more than a year until its holdings reach 18% of gross domestic product. That should ultimately provide some stability in a year that will see two elections and the drafting of a new constitution following the worst social unrest in more than a generation.
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