The coronavirus has been affecting the Chilean economy, which has seen in its currency lose weight against the dollar, since last Friday it overcame the barrier of 800 Chilean pesos.
The Central Bank of Chile (BCC) said that the dollar observed on February 21 closed at 804.74 Chilean pesos, while the projected on Monday 24 will be 809.82.
YOU CAN SEE Coronavirus: G20 Finance Meeting focuses on effects of the epidemic
However, the value of the exchange rate it had on Friday was higher at the opening, as in the exchange houses. The newspaper La Tercera said that the dollar It reached a peak of 813.67 Chilean pesos, although in parallel it was sold up to 830 Chilean pesos.
Increase in Chilean peso to dollar change. Source: Central Bank of Chile.
The dollar’s decline that Friday was due to the increase in the price of copper, which stood at $ 2.60 per pound.
“Apparently, the control of coronavirus It will be much more complex than previously thought and that is the signal that is moving the dollar and what is moving the needle in the dollar market. The market realized that this is a tremendous problem that will not be easy to solve, ”economist Francisco Castañeda told EFE.
The devaluation of the Chilean peso is only surpassed on November 29 last year, when the change in dollar It was 828.25 Chilean pesos, according to the BCC registry. In context were the social protests in the southern country, which began on October 18. The following days, being below 715 Chilean pesos, rose to break the 800 barrier and the mentioned peak, calming down in December.
Different economists – El Mercurio said – point to a possible intervention by the Central Bank, although they estimate that it would only occur when the exchange rate reaches 830 Chilean pesos, at which time the entity would make a financial injection to reassure the constant increase.
Source: Agencies
– .
