Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Chile Currency Intervention Outlook Fades on Report, BCI Says

Chile’s central bank is less likely to step in to weaken the currency after its monetary policy report yesterday, according to Banco de Credito & Inversiones.

The real exchange rate, an inflation-adjusted measure of the currency’s strength against trading partners, is within a range consistent with economic fundamentals, the central bank said yesterday as it raised its growth forecast for this year.

“It’s pretty definitive,” Felipe Alarcon, an economist at BCI in Santiago, said in a telephone interview. “The central bank says its working assumption is that the real exchange rate is within range and that it’s consistent with long-term fundamentals. That’s a major non-intervention signal.”

Volatility in the currency has been the lowest in 15 years as concern the central bank would intervene prevented the peso from appreciating through 470 per U.S. dollar.

The peso slid 0.1 percent to 472.45 per U.S. dollar at 11:30 a.m. in Santiago, paring its rally in 2013 to 1.4 percent. The currency has traded in a range of 471 to 474 per dollar since March 15.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.