Saturday, January 16We Break the News

Chilean Peso at Over 1-Month Low

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The Chilean peso touched 745.5 against the USD on Wednesday, its lowest level since December 7th, after the central bank announced plans to boost its international reserves. The Central Bank of Chile said it will start to replenish its reserves next week through daily purchases of $40 million at competitive auctions of a total value of $12 billion. The move aims to strengthen liquidity as the IMF credit line will end next year. With this increase, reserves will total 18% of the GDP. The Chilean peso appreciated around 5.6% against the greenback in 2020, mainly supported by copper prices.

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