Exchange Rate in Chile
Chile - Exchange Rate
Chilean peso strengthens to nearly one-year high in early July
After hitting a multi-year low in January, the Chilean peso has recovered somewhat in recent months and appreciated to its strongest value in nearly one year in early July. On 4 July, the currency traded at 657.0 CLP per USD. The print represented a 3.7% appreciation over the same day in June but a 3.1% depreciation in annual terms. Since the beginning of this year, the peso gained 7.3%.
The recent strengthening of the peso is mainly the result of a surge in copper prices at the end of June and in early July. Copper is Chile’s top export and its price is thus strongly correlated with Chile’s currency. On top of this, the appreciating peso also reflects that the U.S. dollar weakened on the back of expectations that the U.S. Federal Reserve Bank will hike interest rates later than previously thought following the UK’s vote to leave the European Union.
Panelists surveyed for this month’s LatinFocus report expect the peso to trade at 697 CLP per USD at the end of 2016. Next year, the panel sees the currency trading at 693 CLP per USD.
Chile - Exchange Rate Data
|Exchange Rate (vs USD)||525.5||606.9||708.6||669.8||615.4|
5 years of economic forecasts for more than 30 economic indicators.
Chile Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||4.58||-0.44 %||Jun 14|
|Exchange Rate||638.2||0.05 %||Jun 14|
|Stock Market||27,921||-0.67 %||Jun 14|
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June 13, 2018
At its monetary policy meeting ending on 13 June, the board of the Central Bank of Chile (BCC) unanimously voted to hold the policy rate stable at 2.50% for the eleventh consecutive meeting, in line with market expectations.
June 8, 2018
Consumer prices rose 0.3% in May, unchanged from the previous month’s reading and coming in slightly above market expectations of a more moderate 0.2% increase.
June 7, 2018
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) came in at 51.2 points in May, unchanged from the previous month’s reading.
June 5, 2018
Economic activity jumped 5.9% in April in annual terms, according to the Monthly Indicator for Economic Activity (IMACEC) published by the Central Bank of Chile.
June 1, 2018
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez rose from 54.4 points in April to 55.9 in May.