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*BCCH Seeks To Increase International Reserves

CHILE

Out this morning- *BCCH seeks to increase international reserves to 18% GDP (bbg)


Chile Central Bank will implement a program to replenish and expand its international reserves. This commences next week ahead of the IMF Flexible Credit Line ending in May 2022.

  • Process will include the purchase of foreign currency for $12B
  • $2.55B to replace reserves used in the intervention plan on Dec. 2019 and Jan. 2020
  • Remaining balance to increase reserves size to 18% of GDP

USDCLP extending gains from yesterday, spiking up to 751.20 on the open and currently resides at 743.75, up 2.4% on the day.

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