MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCLP Gaps Lower as MoF Announces Resumption of Dollar Sales

CHILE
  • The Ministry of Finance announced overnight that it will resume its dollar sales operations, saying that it will sell up to $3bn between January and the end of March. The government provided the usual caveat that the amount is subject to modifications due to possible changes in financing needs or changes in market conditions.
  • The announcement comes amid a significant weakening of the peso this week, as markets have adjusted their calls for potentially more aggressive BCCh easing on Jan 31. USDCLP has gapped lower at the open, declining 0.90% to 910, and practically paring the entirety of the week’s prior advance.
  • According to Itaú, the $3bn could be sourced from the recent $1.7bn dollar-denominated bonds issued this week, an $800mn withdrawal from the Stabilisation Fund announced yesterday, and regular dollar denominated revenues received from mining companies. Itaú expect dollar sales of $8-10bn in 2024, down from $12.2bn last year.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.