Pesos and Protests

[admin]

1 USD = 769.984 CLP

[Jamers41]

1 USD = 769.984 CLP

Still not cheap........but the important part is the Central Bank getting the dollar under control and the market no longer wiping the floor with the peso.

[paladin]

1 USD = 769.984 CLP

Still not cheap........but the important part is the Central Bank getting the dollar under control and the market no longer wiping the floor with the peso.

I guess I’m just selfish , but I was very happy with how things were when it was over 800, and maybe once the CB finishes its support next May, it will go up a bit.

[tiagoabner]

It's the same for me, but I believe that the Central Bank needs to keep it stable so that the foreign markets keep trusting on their ability to control the exchange rate. So I'm happy to take that 5-10% hit if that's what it takes for Chilean economy to not collapse.

[admin]

copper price is on fire due to the u.s. china whatever thing they got going on.

we are probably not going to see 800+ again.

[admin]

2.83 per pound last night for copper.

would expect some big moves in the peso to match today.

https://www.mining.com/copper-price-jum ... rade-deal/


think there is a chance to break $3 a pound by the first of the year.

[PXYC]

So..

I think the price of dollar has been dropping 10 pesos per day lately, I've made a tranfer at 766 and just out of curiosity checked again today and it is 746 clp on XE. Shoud've waited!!

Also, I renewed a deposito a plazo today and the rate increased a lot! By 0.18 last month to 0.20 today in Santander. What's happening with rates?

[Jamers41]

So..

I think the price of dollar has been dropping 10 pesos per day lately, I've made a tranfer at 766 and just out of curiosity checked again today and it is 746 clp on XE. Shoud've waited!!

Also, I renewed a deposito a plazo today and the rate increased a lot! By 0.18 last month to 0.20 today in Santander. What's happening with rates?

Some days it has dropped at least several pesos, but there have been other days where it doesn't move really or even edges up a bit. My guess with the interest rates is that since the Banco Central is apparently not going to be cutting them anymore (would be counterproductive in their quest for a stronger peso), perhaps banks let rates for savers go back up a bit? By the way that intervention that the Banco Central is doing to support the peso is now going to be only certain days of the week for the rest of the program (currently scheduled for Mondays, Thursdays, and Fridays until May).

[paladin]

To me DAP are a waste of time. It doesnt even cover inflation. Far better to take advantage of other investments, which are cheaper than before and give a return worth having.

[Jamers41]

To me DAP are a waste of time. It doesnt even cover inflation. Far better to take advantage of other investments, which are cheaper than before and give a return worth having.

They definitely don't have attractive rates these days. I can remember when there were some 'cooperativas' offering deposits at 7% or 8% for 1 year (like in the boom times of 2011/2012).

[admin]

To me DAP are a waste of time. It doesnt even cover inflation. Far better to take advantage of other investments, which are cheaper than before and give a return worth having.

They definitely don't have attractive rates these days. I can remember when there were some 'cooperativas' offering deposits at 7% or 8% for 1 year (like in the boom times of 2011/2012).

Yea the certificate of deposits I almost never use unless I need park a sum of money short-term and needs to be relatively liquid. I calculated once that it did not even cover the gas to go to the bank to renew them, or even just the time to mess with management. Anything more than a month or two, and almost any other investment is better.

[admin]

So..

I think the price of dollar has been dropping 10 pesos per day lately, I've made a tranfer at 766 and just out of curiosity checked again today and it is 746 clp on XE. Shoud've waited!!

Also, I renewed a deposito a plazo today and the rate increased a lot! By 0.18 last month to 0.20 today in Santander. What's happening with rates?

country risk has gone up, so banks cost of borrowing has gone up. The central bank will probably not be able to cut rates anymore, and get any effect out of it.