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Chile Central Bank Expands Foreign Exchange Trading Hours

CHILE

More colour from the statement on the website:

  • Extends foreign exchange trading hours to promote internationalization of the Chilean peso.
  • Extending trading hours, along with representing a good practice, is in line with the recent regulatory changes ordered by the Bank.
  • Following January's announcement to gradually increase the International Reserves by US $ 12,000 million, the program has had an important innovation: executing foreign exchange purchase auctions at non-conventional hours.
  • This is how, in recent weeks, more than 20% of the auctions have been held before 9:00 a.m. or after 1:30 p.m., at times where operations are usually more sporadic and, therefore, liquidity is lower.

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