Pesos and Protests

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paladin
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Re: Pesos and Protests

Post by paladin » Mon Nov 04, 2019 8:21 pm

sorry admin, I didnt kniw I had somehow chose to underline everything in my post. I dont know how to do that, if I wanted to!

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nwdiver
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Re: Pesos and Protests

Post by nwdiver » Mon Nov 04, 2019 8:24 pm

I THOUGHT YELLING WAS ALL CAPS........
It's all about the wine.

mem
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Re: Pesos and Protests

Post by mem » Mon Nov 04, 2019 10:44 pm

Right caps=yelling.I think underline is somewhere between normal volume and yelling. Perhaps a raised voice : )

Jamers41
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Re: Pesos and Protests

Post by Jamers41 » Mon Nov 04, 2019 11:44 pm

Speaking of yelling, El Mercurio had its usual mid day article about the daily movements in the exchange rate, and said something to the effect of "the dollar dramatically fell" today or the peso made a "big recovery", or something along those lines, when in fact at the end of the trading session is was down less than 1 peso.......of course being sensationalistic about market movements seems to be quite normal for them.

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Re: Pesos and Protests

Post by lost gringo » Mon Nov 04, 2019 11:51 pm

Right now XE.com has 1 USD = 744.722 CLP
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admin
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Re: Pesos and Protests

Post by admin » Tue Nov 05, 2019 12:33 pm

well we got a stronger dollar, apart from all the domestic issues, some warnings out of few mines regarding some small decreases in production outputs, few other issues.
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Badbadbad
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Re: Pesos and Protests

Post by Badbadbad » Tue Nov 05, 2019 2:53 pm

Things seems to calm down, at least where I am, however peso went up to 748 today. So back to the question, if I have USD right now should I buy in Pesos?

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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Tue Nov 05, 2019 3:00 pm

While I don't have a working crystal ball, the current exchange rate is close to 750, which was what the central bank has mentioned would be the highest they would allow before taking action. So yeah, pretty good time to buy pesos.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

Jamers41
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Re: Pesos and Protests

Post by Jamers41 » Tue Nov 05, 2019 3:03 pm

tiagoabner wrote:
Tue Nov 05, 2019 3:00 pm
While I don't have a working crystal ball, the current exchange rate is close to 750, which was what the central bank has mentioned would be the highest they would allow before taking action. So yeah, pretty good time to buy pesos.
Assuming that the Banco Central steps in.

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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Tue Nov 05, 2019 3:04 pm

Jamers41 wrote:
Tue Nov 05, 2019 3:03 pm
tiagoabner wrote:
Tue Nov 05, 2019 3:00 pm
While I don't have a working crystal ball, the current exchange rate is close to 750, which was what the central bank has mentioned would be the highest they would allow before taking action. So yeah, pretty good time to buy pesos.
Assuming that the Banco Central steps in.
Yes, assuming they step in, as they said they would.
I'm NOT your lawyer, accountant or financial planner. All information at this post should be considered for your entertainment only. Consult a professional before making a decision regarding whatever topic was mentioned in this post.

mem
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Re: Pesos and Protests

Post by mem » Tue Nov 05, 2019 4:12 pm

Golden opportunity getting CLP with USD...it hasnt been at these levels for several years and even then the median is several hundred CLP lower if you go back 20 years. Might even be twice as high as the median. Buying US import products with CLP is all time high levels of pain for business owners

There is a strong likelihood that the central bank is going to intervene and knock it way down.

Jamers41
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Re: Pesos and Protests

Post by Jamers41 » Tue Nov 05, 2019 6:13 pm

mem wrote:
Tue Nov 05, 2019 4:12 pm
Golden opportunity getting CLP with USD...it hasnt been at these levels for several years and even then the median is several hundred CLP lower if you go back 20 years. Might even be twice as high as the median. Buying US import products with CLP is all time high levels of pain for business owners

There is a strong likelihood that the central bank is going to intervene and knock it way down.
I don't necessarily doubt the will of the Central Bank to defend the peso, but rather their ability. This wouldn't be the first time in their history they have intervened, and from what we've seen before, it tends to not have such a massive, long-term effect.

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