Chile unexpectedly halts forex interventions

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The Central Bank of Chile

The Central Bank of Chile has unexpectedly halted the foreign exchange interventions it had been using to support the weakening national currency.

From today (January 13), the institution suspended the daily dollar auctions it started on December 2. It will only renew the stocks of exchange hedging instruments it sold during these weeks, worth $4.5 billion.

When it unveiled the programme on November 28, 2019, the central bank said it planned to maintain the interventions until May 29, 2020.

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