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Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 5:23 pm
by mem
You will hear me complaining...pulling USD into CLP from the US. Show me 700+ again please.

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 5:27 pm
by Jamers41
Well I guess I'm one of the less well-off members of the forum here as I earn my keep in CLP.

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 6:24 pm
by eeuunikkeiexpat
JAJA, I did my last ATM withdraw before the Great American Eclipse and this time my hunch was correct.

Countering the equally bad news from Chile vs. the US, we have:

--the US debt ceiling battle and possible gov. shutdown (official USG EOY is Sept. 30) with not even enough funds to get to EOY
--the strange strength in copper and other metals
--the USD Index hitting new 52 weeks lows as we speak
--perception that perhaps a Deep State removal of Trump from office will soon take place AND instigate
--US civil war/domestic distrubances that are sure to continue to place in doubt the validity of USD as the world reserve currency
--not to mention an idiotic doubling down on Afghan and $uch??$$$$$

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 6:34 pm
by tiagoabner
admin wrote:Well after long period of relative stability in the 660 land, 628 pesos to the dollar today.
The exchange rate variation since I arrived made everything here at least 6% more expensive, as I get paid exclusively in US dollars. When you compound that with the inflation rates for the period, it will make up for a rough 10% increase in most costs. Yikes!

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 8:00 pm
by admin
If you are planning on investing something in chile, the next 6 to 12 months is the time to do it.

Without fail foreigners seem to like to come running in to chile with their wallets on fire to buy something after the peso is strong, and the economy is already overheating, and the prices of everything have jumped to the moon.

By late 2018, perhaps much sooner, that peso is going to break below 600 and stay there for a very long time.

---- copper price recovering

---- new president

---- dollar weaking

----- low intrest rates

----- lots and lots of both foreign and domestic investment money has been sitting on the sidelines for
Way too long, waiting for this nightmare of an administration to end.

--- recovery in the neighboring countries tends trickle through to chile.

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 8:06 pm
by tiagoabner
Nah, I don't plan on investing here, I will leave the country next years between May and June. But yes, your reasoning is perfectly correct.

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 8:13 pm
by admin
Ya that exchange rate, even if it is a short term blip, has me smiling tonight. I am getting on a plane to europe tomorrow for a month long trip.

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 8:18 pm
by admin
Actuelly, for those with a longer time horizon, last year was the year to invest, if you were looking for a bottom in just about everything.

But of course that is one of those rearview mirror things, we probably wont confirm for a few more years.

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 8:22 pm
by admin
Irony was, for most of 2016 to just about now, we had some of our slowest investment flows among our clients in to the country ever, while quite a few were flowing money out of the country. Sometimes taking fairly big hair cuts (for all kinds of reasons, not just investment for the sake of investment).

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 9:38 pm
by admin
Chile gained the most on the dollar of all currencies in the world in august:

https://www.df.cl/noticias/mercados/div ... 85539.html

Re: Chile Peso 2017, starts at 665.29

Posted: Mon Aug 28, 2017 9:55 pm
by jehturner
Uh oh. There goes a large chunk of my USD income :-(.

Re: Chile Peso 2017, starts at 665.29

Posted: Tue Aug 29, 2017 1:14 am
by Space Cat
Remembering 700+ now...