Pesos and Protests
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Moderation of this forum will be very strict compared to other sections of the Chile Forum. “Spamming”, “Trolling”, promotion of “fake news”, “conspiracy theories” or otherwise interfering with the dissemination of accurate information in this dedicated “Crisis Forum” will result in deletion of posts, and repeat offenders will have their accounts banned.
- helibel
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Re: Pesos and Protests
Thursday we exchanged several hundred dollars at the bank in Futrono for 817 pesos to the dollar. XE was showing 829 so 12 pesos different.
- 41southchile
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Re: Pesos and Protests
Yeah XE magically dropped their rate down to 804 around 11pm to midnight last night.
This has been interesting to watch to say the least.
This has been interesting to watch to say the least.
“Facts do not cease to exist because they are ignored.”
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Re: Pesos and Protests
Morningstar (from google search) is showing the peso 8% (!) weaker than on xe.com (compared to both dollars and pounds). Oanda is nearer to Mornigstar. Bloomberg and Transferwise are closer to the xe.com rate. Spread is 799-867 (!).
xe.com previously was the one that showed the weakest peso rates, now it's the other way around. Screwy times.
xe.com previously was the one that showed the weakest peso rates, now it's the other way around. Screwy times.
- El Presidente
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Re: Pesos and Protests
The Central Bank is starting its intervention operations today, according to the following Schedule:
https://www.bcentral.cl/documents/20143 ... 5053871961
The peso opened around 798 and is starting to depreciate again. I generally tend to use the Bolsa Electronica de Chile (BEC) because it shows real-time interbank operations:
https://www.bolchile.com/dolar-public#dolar-public
The press release can be found in the following link:https://www.bcentral.cl/documents/20143 ... 5053871961
The peso opened around 798 and is starting to depreciate again. I generally tend to use the Bolsa Electronica de Chile (BEC) because it shows real-time interbank operations:
https://www.bolchile.com/dolar-public#dolar-public
“We will not go quietly into the night. We will not vanish without a fight. We’re going to live on. We’re going to survive. Today we celebrate our INDEPENDENCE DAY.” - President Thomas J. Whitmore
Re: Pesos and Protests
so the peso basically went nowhere today. I guess that is some sort of progress.
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- El Presidente
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Re: Pesos and Protests
An interesting short memo from the Central Bank today which tries to explain its current intervention policies:
https://www.bcentral.cl/documents/20143 ... 5387991897
It stresses that the intervention is not to maintain a certain exchange rate but rather reduce volatility:
https://www.bcentral.cl/documents/20143 ... 5387991897
It stresses that the intervention is not to maintain a certain exchange rate but rather reduce volatility:
There´s also an interesting point at the end on why the Bank will not be using its international reserves to pay for social spending:El Banco Central no persigue un precio específico, sino reducir los elevados niveles de volatilidad que se estiman excesivos, más aún cuando estos movimientos son rápidos y sucesivos en la misma dirección
si se usaran las reservas para financiar gasto fiscal, sería equivalente a financiar el déficit fiscal imprimiendo billetes, lo que en la experiencia chilena y mundial, genera alta inflación....las reservas sirven para evitar inestabilidad económica. Los países que mantienen bajos niveles de reservas o que las usan para fines fiscales, han terminado en hiperinflaciones o en severos programas de ajuste con el Fondo Monetario Internacional
“We will not go quietly into the night. We will not vanish without a fight. We’re going to live on. We’re going to survive. Today we celebrate our INDEPENDENCE DAY.” - President Thomas J. Whitmore
Re: Pesos and Protests
1 USD = 779.909 CLP
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com
From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.
For more information visit: https://www.spencerglobal.com
From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.
Re: Pesos and Protests
took a while, but central bank seems to be wrangling the peso down.
Probably the general return of some sort of stability has more to do with it.
Probably the general return of some sort of stability has more to do with it.
Spencer Global Chile: Legal, relocation, and Investment assistance in Chile.
For more information visit: https://www.spencerglobal.com
From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.
For more information visit: https://www.spencerglobal.com
From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.
Re: Pesos and Protests
Today on XE 773 clp
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Re: Pesos and Protests
I noticed that www.bcentral.cl has been showing the next day's rate in advance, like this:
I don't remember if they did that before shtf. But it does seem to encourage some dollar selling for people who convert to CLP with ATM's, when the next day's rate is worse. Especially when the official rate is a little higher than what's currently showing on some other web sites, like it is now. Anyway, it seems like a pretty good idea, if that's what they're doing.Dólar Observado 784,25
Dólar Observado 09-12-2019 779,04
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin
- El Presidente
- Rank: Chile Forum Full Member
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Re: Pesos and Protests
Yep, that's how they publish it as per legal requirement.
The current published observed dollar is based on the previous banking day's trades in the interbank market. They usually publish between 5-6pm in the arvo with the next business days date. If you checked their website at 6pm on 17 September this year, you would have seen an exchange rate for 23 September (due to the 3 public holidays in between).
Link to methodology here.
The current published observed dollar is based on the previous banking day's trades in the interbank market. They usually publish between 5-6pm in the arvo with the next business days date. If you checked their website at 6pm on 17 September this year, you would have seen an exchange rate for 23 September (due to the 3 public holidays in between).
Link to methodology here.
El dólar observado corresponde a un promedio ponderado por montos transados de las operaciones spot (contado) de compra y venta entre el peso chileno y el dólar de los Estados Unidos de América, efectuadas en el Mercado Cambiario Formal durante el día hábil bancario inmediatamente anterior.
“We will not go quietly into the night. We will not vanish without a fight. We’re going to live on. We’re going to survive. Today we celebrate our INDEPENDENCE DAY.” - President Thomas J. Whitmore
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Re: Pesos and Protests
Thanks, so it's nothing new. Of course it could have the opposite effect in the other direction:)El Presidente wrote: ↑Sat Dec 07, 2019 10:44 pmYep, that's how they publish it as per legal requirement.
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin