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Chilean Peso Weaker on Intervention Comments

April 10, 2013 at 14:16 by Vladimir Vyun

Some Chilean peso banknotesThe Chilean peso weakened today on speculations that the central bank may intervene to trim the rally of the currency that reached the highest level since September 2011 this week.

Finance Minister Felipe Larrain said that the Chilean government and the Central Bank of Chile may act in coordination to rein the currency’s gains and an intervention is an option. The bank will conduct a policy meeting tomorrow. There were signs that the central bank was buying dollars.

USD/CLP rose from 467.45 to 469.15 as of 14:13 GMT today. The currency pair touched 467.05 on April 8, the lowest level in 19 months.

If you have any questions, comments or opinions regarding the Chilean Peso, feel free to post them using the commentary form below.

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