2024-01-19 19:02:00
The dollar fell to around $910 this Friday in Chiledriven by the announcements of the Ministry of Finance about its dollar auction plans for the first quarter, to which was added a strong recovery in copper in an environment of greater appetite for risk internationally.
At the end of the session, The exchange rate fell $9.27 to $911.41 in the Bloomberg seriesafter having fallen to an intraday low of $908 during the afternoon. The fall allowed it to almost completely cancel the advances at the beginning of the week, registering a net increase of $1.33 in the last five days.
He dollar index fell 0.21% and Comex copper rose 1.05% today in global markets, where Almost all emerging currencies appreciated against the dollar and the Chilean peso occupied the second best place in this ranking. In parallel, The New York Stock Exchange was heading for an all-time highdriven by technology stocks.
Treasury Announcements
Internal factors also supported the peso. The Budget Directorate reported yesterday that will sell dollars for up to US$ 3 billion during the period from January to Marchan amount that in any case “is subject to modifications, given possible changes in financing needs or significant changes in market conditions.”
“The market quickly incorporated the announcement of the sale of the Treasury, which is at the top of what it has announced in recent years”said to DF the business manager of MBI Inversiones, Fernando Montalva, although he warned that “normally Treasury actions have a limited effect in price and duration on the dollar.”
The portfolio also announced that issued a bond for US$ 1.7 billion in international markets.“Two opposite effects are added: the Treasury is going to issue less debt in dollars (in favor of the dollar) and they have to liquidate to use the Chilean pesos (in favor of the peso),” explained Montalva, in view of what the last programs deployed by the ministry.
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