Chile’s Central Bank to Purchase $300 Million in December

Chile’s central bank plans to buy $50 million a day until Dec. 16, the bank said today as it published its bond sale calendar for the month through Jan. 8.

The bank has already bought $11.7 billion of U.S. dollars as part of a $12 billion intervention announced in January. The new purchases will add $300 million. By yesterday the bank would have made about $614 million profit on its intervention, according to Bloomberg calculations that exclude the cost of financing the operation and profits or losses from investing the dollars purchased.

The bank plans to sell $422 million of bonds, including $148 million in pesos and $274 million in unidades de fomento, the country’s inflation-linked accounting unit, over the period. The government will sell $307 million of debt, $77 million of it in pesos and $229 million in unidades de fomento, the bank said.

The central bank won’t sell any 20-year inflation-linked bonds this month and the government won’t offer 10-year, 20-year or 30-year inflation-linked bonds or 10-year fixed-rate bonds.

To contact the reporter on this story: Sebastian Boyd in Santiago at sboyd9@bloomberg.net

To contact the editor responsible for this story: Philip Sanders at psanders@bloomberg.net

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