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Budget Office USD Sales, Boric Approval Slides Further

CHILE
  • Chile’s Budget Office, a division of the Finance Ministry, said it will auction $500m in Jan. with a maximum per day of $100m, according to a statement on its website. The announcement of a renewal of USD sale operations prompted a sharp spike higher for the Chilean peso on Friday, with USDCLP trading from 825 down to 815 before recovering into the close.
    • “For the month of January 2023, it is estimated to auction a total amount of up to US$500 million, with a daily maximum of US$100 million. It is important to point out that the aforementioned amounts are subject to modifications, either due to significant changes in market conditions and/or in the financing needs of the fiscal fund, which would be informed in a timely manner.”
  • Elsewhere, the approval rating of President Boric has fallen a further 2pps to 25%, according to the latest Cadem survey. Additionally, 72% (+8pts) disagree with the pardon of 12 convicted of crimes associated with the social outbreak and 81% (+7pts) disagree with the pardon of former frontista Jorge Mateluna, convicted of the robbery of a bank in 2013.

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