Pesos and Protests

[41southchile]

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.

[41southchile]

Any bets on 1000 pesos ? Its starting to run away again. 830

[tiagoabner]

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.

[Britkid]

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.

[admin]

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.

[admin]

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.

[admin]

woops, too late.

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

https://www.emol.com/noticias/Economia/ ... 0-mil.html

[admin]

seems 805 after the intervention.

https://www.df.cl/noticias/mercados/mer ... 90817.html

[mem]

829 to 805

Only cost a paltry 20 billion USD

[Zenth]

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

[eeuunikkeiexpat]

Chile will be fucked if it has to eventually turn to the I M F .

[tiagoabner]

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