Pesos and Protests

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41southchile
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Re: Pesos and Protests

Post by 41southchile » Wed Nov 27, 2019 1:19 pm

What's worse?

A)The vandals and criminals physical destruction of infrastructure and businesses and more importantantly psychological destruction of the country.

B)The government ineptness, incompetence, aloftness, (or whatever disparaging adjective you want to use, theres a lot), at handling this whole situation in the last 40 days.


"El alza del dólar se debería en gran medida a la incertidumbre que se sigue observando en Chile y los actos de violencia que se mantienen, sin una acción decidida por parte de Gobierno y actores políticos para frenar esta situación.
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

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41southchile
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Re: Pesos and Protests

Post by 41southchile » Thu Nov 28, 2019 8:48 am

Any bets on 1000 pesos ? Its starting to run away again. 830
Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science. - Darwin

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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Thu Nov 28, 2019 8:59 am

It may hit 1000 if there are major developments (say, the protestors burn a major government office or destroy some major infrastructure), but I don't think we'll hit 1000 by the end of the year otherwise.
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Britkid
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Re: Pesos and Protests

Post by Britkid » Thu Nov 28, 2019 9:41 am

I just looked on Transferwise and the fixed rate it offered me for the pound was 1079.79 which this time was, I think unlike the previous time, closer to the current xe.com rate of 1080 than the current oanda rate of about 1040.

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admin
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Re: Pesos and Protests

Post by admin » Thu Nov 28, 2019 10:09 am

829.468 to the dollar via xe.com now.

central bank is going to need to step up. I guess if you are feeling lucky, you could play the arbitrage on this.
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admin
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Re: Pesos and Protests

Post by admin » Thu Nov 28, 2019 10:17 am

yea, as tempting as this is to sell dollars right now, I find myself hanging on to my dollars a lot longer. paying peso bills with peso income, and leaving any dollars in dollar accounts that i normally would sell once or twice a month.

If I found the right investment I might sell dollars to invest in something, but like I am not going to put them in to pesos just for them to sit in pesos in the bank. land, stock, something that will have a return.

If I am doing it, I bet a lot of the big exporters are doing the same right now.
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admin
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Re: Pesos and Protests

Post by admin » Thu Nov 28, 2019 7:56 pm

woops, too late.

central bank stepped in with 20 billion dollar sale after close.

https://www.emol.com/noticias/Economia/ ... 0-mil.html
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admin
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Re: Pesos and Protests

Post by admin » Thu Nov 28, 2019 8:05 pm

Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
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mem
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Re: Pesos and Protests

Post by mem » Thu Nov 28, 2019 9:54 pm

829 to 805

Only cost a paltry 20 billion USD

:|

Zenth
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Re: Pesos and Protests

Post by Zenth » Thu Nov 28, 2019 10:07 pm

If the peso continues to sink, does the Central Bank have more reserves?

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eeuunikkeiexpat
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Re: Pesos and Protests

Post by eeuunikkeiexpat » Thu Nov 28, 2019 10:21 pm

Chile will be fucked if it has to eventually turn to the I M F .
There are two ways to be fooled.

One is to believe what isn't true;

the other is to refuse to believe what is true.

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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Thu Nov 28, 2019 10:40 pm

admin wrote:
Thu Nov 28, 2019 8:05 pm
seems 805 after the intervention.

https://www.df.cl/noticias/mercados/mer ... 90817.html
Actually, today they've just announced that they'll be intervening in the market. They'll begin to sell dollars on Monday, December 2nd, until May 2020. There USD $20 billion are going to be sold throughout this period.

Source: https://www.biobiochile.cl/noticias/eco ... ario.shtml
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.

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