Pesos and Protests

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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Thu Nov 28, 2019 10:41 pm

So a $23 (roughly 3%) drop is quite a decent result. The market actually has reached to the government taking a stance on the matter. Given how paralyzed Piñera's team seems to be, it's actually refreshing to see actions being taken.
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mem
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Re: Pesos and Protests

Post by mem » Thu Nov 28, 2019 11:01 pm

tiagoabner wrote:
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
Excellent clarification, I missed the range window for that. The 20 billion USD will have better mileage with it spread out to May

thisisreallycomplicated
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Re: Pesos and Protests

Post by thisisreallycomplicated » Thu Nov 28, 2019 11:18 pm

https://www.bcentral.cl/
Dólar Observado 29-11-2019 828,25
I think that's a new record for the official exchange rate
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murf
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Re: Pesos and Protests

Post by murf » Thu Nov 28, 2019 11:49 pm

thisisreallycomplicated wrote:
Thu Nov 28, 2019 11:18 pm
https://www.bcentral.cl/
Dólar Observado 29-11-2019 828,25
I think that's a new record for the official exchange rate

830.74 as I type.


Happy thanksgiving 🍽
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admin
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Re: Pesos and Protests

Post by admin » Thu Nov 28, 2019 11:54 pm

relax everyone.

I am convinced this is still a copper game.

the u.s. and china have a bad day, peso gets punished.

u.s. and China looks like they have a good day with trade agreements, peso strengthens.
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Re: Pesos and Protests

Post by admin » Thu Nov 28, 2019 11:55 pm

the riots are only mildly part of the equation for the FX traders
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tiagoabner
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Re: Pesos and Protests

Post by tiagoabner » Thu Nov 28, 2019 11:56 pm

As someone who gets paid in dollars, in as relax as I'll ever be. 🙂
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murf
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Re: Pesos and Protests

Post by murf » Fri Nov 29, 2019 12:48 am

All well and good until the price of a Completo reaches 20 lucas
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Jamers41
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Re: Pesos and Protests

Post by Jamers41 » Fri Nov 29, 2019 1:33 am

admin wrote:
Thu Nov 28, 2019 11:55 pm
the riots are only mildly part of the equation for the FX traders
Local ones or traders outside of Chile?

I'm betting it wasn't a coincidence that the peso got punished so badly today (Thursday) while it was a holiday with markets closed in the US.

Hopefully the Central Bank can actually make a dent in the rate, fighting against the USD currency market is no small task.

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41southchile
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Re: Pesos and Protests

Post by 41southchile » Fri Nov 29, 2019 6:11 am

Where are you guys seeing 805? I cant see anything less than 828 (bancocentral) and 835 on xe and Google.
There is one biobio article saying its 805 at 8.30 last night, but nothing showing this on Google xe or banco central this morning. 836 just now on xe. Why are there such wild variations? Just the uncertainty at the moment or a narrative?

As for copper, its actually been trading in a very narrow band and hasn't gone out of 2.60 to 2.70 pound since this whole thing started, about a 3 or 4 percent variation either side, about the most stable it's been for that amount of time all year, certainly no wild swings .

Yet the peso dollar has lost over 100 pesos. 🤔. Losing over 15 percent.

As several traders have said in the media, this is not the destruction and unrest per se of the criminals, it's the government's complete inability to deal with the situation after 40 days. This lack of any credible plan or way forward has created a crisis of confidence and a level of uncertainty not seen in the country in recent times, if ever.
Blame it on US China or copper or whatever, but while the government here fucks around and doesn't take a decisive stand , nothing much is probably going to change, if 4 billion did jackshit why will 20 billion? Expect 850 soon.

Here's a graph and timeline of events here and dollar since this started
https://www.emol.com/noticias/Economia/ ... chile.html
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Re: Pesos and Protests

Post by admin » Fri Nov 29, 2019 8:20 am

1 USD = 837.387 CLP
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Re: Pesos and Protests

Post by admin » Fri Nov 29, 2019 8:32 am

that was xe

but news is reporting Bloomberg at 799 to the dollar as trading opens.
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