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Chilean Peso Falls as Inflation Retreats from Record Level

February 7, 2014 at 12:59 by Vladimir Vyun

10,000-peso bills fanChile’s inflation fell even as the nation’s currency was weakening, and this led to speculations that the central bank will reduce interest rates. Such talks weakened the Chilean peso even more.

Inflation fell to 2.8 percent in January from 3 percent in the previous month. The December’s level was highest in 19 months. The Central Bank of Chile already eased monetary policy in October and November and may do so again. Such prospects are negative for the peso.

USD/CLP was up from 552.15 to 552.85 as of 12:59 GMT today.

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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