Chile Forum

by **eeuunikkeiexpat** » Sat Jun 13, 2009 12:44 am

Speaking of RWS, he has been MIA for a noticeable period of time.

by **jehturner** » Sat Jun 13, 2009 12:49 am

eeuunikkeiexpat wrote:Speaking of RWS, he has been MIA for a noticeable period of time.

Maybe he's already sailing here. He always seemed to be coming imminently...

by **jehturner** » Tue Jun 16, 2009 1:26 pm

Apparently the government announced yesterday the extension of this programme to $4bn (causing the dollar to drop a couple of percent today, though last time the initial drop wasn't very long lived). So if the auctions are daily, that would amount to a 5 week extension.

http://www.economiaynegocios.cl/noticia ... p?id=64275

Cheers,

James.

by **admin** » Tue Jun 16, 2009 2:15 pm

Here are some more details from bloomberg hitting the wire. Get ready for a stronger peso.

http://www.bloomberg.com/apps/news?pid= ... j1_oCvEv_w

http://www.bloomberg.com/apps/news?pid= ... xPfzNjWvEQ

We are going in to an election year, and the economy is finally starting to show some real signs of slowdown on the ground. Unemployment is accelerating, winter is setting in, and the steam has come off the real estate and construction in a big way.

by **jehturner** » Tue Jun 16, 2009 11:32 pm

I had read the amount of the new auction as an additional $1bn to make up the original $3bn to 4, but it looks like I may have misunderstood and it's really another $4bn (or 5 months' worth rather than 5 weeks').

Cheers,

James.

by **ak405** » Thu Jun 25, 2009 9:05 pm

Looks like the recent effort to boost the peso against the dollar has been working. Since the article the peso has been consistently gaining ground against the dollar...

Dollar Falls Most Against Yen in Month on Fed Rate Outlook wrote:Chile’s peso was the biggest winner against the dollar among all of the world’s currencies after the government announced plans to extend its dollar sales in the foreign- exchange market to fund an additional $4 billion in stimulus spending.

The peso jumped 5.1 percent this week to 535.75 per dollar, its biggest gain since February. It advanced to 534.70 yesterday, the strongest level since Sept. 24.

http://www.bloomberg.com/apps/news?pid= ... s8bfqJgQQE

by **admin** » Thu Jun 25, 2009 11:03 pm

This article is expecting 550 to 560 later in the year:
http://www.reuters.com/article/usDollar ... 0220090625

by **otravers** » Fri Jun 26, 2009 8:44 am

I don't think their end goal is to strengthen the peso, this is a by-product of buying back pesos with the dollars they had saved abroad.

by **gregf** » Thu Jul 02, 2009 3:38 pm

Woohoo, back up over 540 - - hope it stays there or higher for the weekend so I can take up some pesitos.

http://www.economiaynegocios.cl/noticia ... p?id=64835

by **jehturner** » Fri Sep 04, 2009 11:55 am

Here are some investor snippets on how carry trade is propping up the exchange rate recently:

http://www.economiaynegocios.cl/noticia ... p?id=67063

James.

by **Zenth** » Thu Jan 28, 2010 9:11 am

xe.com shows the CLP at 531 for one USD.
Temporary move or a trend?

by **admin** » Thu Jan 28, 2010 9:23 am

Trend.

We are going through our yearly bounce off the bottom, or at least what has been for the last few years. The Central bank also limited the currency hedges that AFP's can hold, so they were forced to buy more dollars. Personally I think the 500 to 550 range is a good comfort space right now for the Chilean economy.

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Need Help In Chile?

Phone From Outside Chile: 1-917-470-9653 ( USA to Chile)
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Chile Forum

Who is online

Need Help In Chile?

Phone From Outside Chile: 1-917-470-9653 ( USA to Chile) In Chile Land Line: (56) 65 421 024 Cell Phone 747 97974 (From a Cell Phone in Chile dial with no other numbers)

Phone From Outside Chile: 1-917-470-9653 ( USA to Chile)
In Chile Land Line: (56) 65 421 024
Cell Phone 747 97974 (From a Cell Phone in Chile dial with no other numbers)