Chile cen bank intervenes to prop up peso

CHILE - The Chilean Central Bank intervened in the currency market today, 31 August, selling millions of dollars to defend the peso for the second time this week, traders said.

The involvement of the central bank in the market firmed the peso, which had reached a low of 663.50 pesos to the U.S. dollar early in the session compared with 30 August closing rate of 661.70/662.00.

Traders said the amount of dollars sold was probably no more than $10 million.

The Chilean currency has depreciated about

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