On 30 September, the Chilean peso (CLP) traded at 515.1 per USD, which represents a 9.6% nominal depreciation over the 465.7 CLP per USD recorded on the last day of August. Moreover, the peso depreciated 5.8% in nominal terms against the U.S. dollar compared to the same day last year. On 4 September, Central Bank Board Member Sebastian Claro stated that monetary authorities did not deem it necessary to end the dollar-purchasing program despite the peso's sharp weakening in recent weeks. On the same day, Chile's Central Bank purchased USD 50 million, as part of its ongoing USD 12 billion currency-intervention program, accumulating USD 9.55 billion so far this year. The program was conceived to pin down the strengthening peso and offset spill-over effects from the metal industry, as copper prices play an important role in the currency's appreciation.
Chile Monetary Policy
Central Bank maintains intervention program despite weakening peso
September 30, 2011
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Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
For a third consecutive month, the mood among Chilean businesses improved in September after it had fallen to the lowest level in over seven years in June.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).