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Central Bank Extends Forwards Rollover Program

CHILE
  • Chile’s central bank will extend its program to rollover $9.11b in currency forwards to June 2 from Jan. 13, according to a statement on its website.
    • “The Board maintains its commitment to the floating exchange regime, reserving the option to intervene in the exchange market in exceptional circumstances if it considers that the proper functioning of the financial market is at risk. Eventual changes to this renewal mechanism will be announced in due course”.
  • The Chilean peso is up 0.75% to start Wednesday’s session, supported by the announcement as well as slightly firmer copper prices amid the China reopening developments. Front-month futures have risen roughly 1.2% from last Friday’s close to 385.50.

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