Chile’s central bank aims to boost reserves by 28%

Programme aims to buy $10 billion in FX over 12 months after interventions to support peso

Central Bank of Chile
Central Bank of Chile
Photo: Central Bank of Chile/Flickr

The Central Bank of Chile (BCCH) will launch a new programme aiming to boost its reserves portfolio by 28.3%, it said on June 9.

The BCCH said it aims to purchase $10 billion in foreign currency to reinforce its international reserves over the next 12 months, starting on June 13,. This will be carried out through daily auctions, where it will acquire $40 million a day.

These stood at $35.3 billion in the first quarter of 2023. This programme of purchases should return reserves to the levels

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