Chile cenbank maintains pace of forex intervention

SANTIAGO, April 8 (Reuters) – Chile’s central bank said on
Friday it would maintain the pace of a $12 billion foreign
exchange intervention aimed at taming the strong peso and
continue to buy $50 million of U.S. currency daily between
April 11 and May 6.

The peso, which weakened sharply after the intervention
began in early January, has since clawed back nearly all of the
7 percent initially lost due to strong prices for the nation’s
main export copper and wider dollar weakness, and is closing in
on three-year highs.

The government has ruled out capital controls, and Central
Bank President Jose De Gregorio has said he is happy with the
progress of the intervention.
(Reporting by Brad Haynes)

Chile cenbank maintains pace of forex intervention