Chile’s central bank to intervene with up to US$25 billion to stop the fall of the peso

Experts blame the rise in the U.S. currency on its global appreciation and the drop in the value of copper, which Chile exports as the world's leading exporter.

RIO DE JANEIRO, BRAZIL - The Central Bank of Chile announced Thursday an intervention in the foreign exchange market with an amount of up to 25 billion dollars to try to stop the fall of the peso, which closed yesterday above the psychological limit of 1,000 units per dollar.

"To facilitate the adjustment of the Chilean economy to the uncertain and changing domestic and foreign conditions, the Central Bank's Executive Board has decided to implement a program of foreign exchange intervention and preventive provision of dollar liquidity of up to US$25 billion," the central bank said in a . . .

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