Latin America Economics

Latin America Update
04 January, 2011

Chile joins the ‘currency war’

The Central Bank of Chile (CBC) will begin intervening in the currency market tomorrow in a bid to weaken the peso. But while the peso has fallen by 5% against the dollar today, history suggests that intervention is likely to have a comparatively short-lived impact particularly if copper prices stay high. By contrast, the Venezuelan government has been forced to devalue the bolivar fuerte once again....

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