Chile launches biggest forex intervention in 20 years

Central Bank of Chile
Central Bank of Chile
Photo: Central Bank of Chile/Wikimedia Commons

The Central Bank of Chile announced a major foreign exchange intervention programme on November 28, aiming to stem the fall of the Chilean peso following weeks of social unrest.

The central bank’s board decided to support the currency by selling $20 billion from December 2 this year to May 29, 2020. This is its first market intervention since 2011, and the largest since 1999, when it adopted the current inflation targeting regime and a flexible exchange rate.

The central bank will sell $10

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