Economics
Chile’s Peso Gains After Central Bank Announces Intervention
- Bank to sell as much as $10 billion on the spot market
- Policy makers will also offer as much as $10 billion in hedges
Photographer: Ronald Patrick/Bloomberg
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Chile’s peso rallied as the central bank offered to sell as much as a quarter of its entire dollar reserves to stabilize a currency that had fallen to record lows in each of the two previous trading sessions.