Chilean government says it will auction $5 billion amid rising US currency

The Chilean government said on Friday that it will auction up to 5,000 million dollars of the fiscal box in the next 60 days at a time when the local currency has lost ground before the rise of the US currency.

The Chilean peso It broke the barrier of 900 units per dollar during the day, which aroused fears about an eventual transfer to the persistent inflationary pressure that the country is going through.

“During the next 60 days, it is estimated that a total of up to 5,000 million dollars of excess liquidity in foreign currency from the fiscal box will be auctioned, with a daily maximum of 200 million,” said the Treasury it’s a statement.

Earlier, the minister of the office, Mario Marcel, said that there was little that the executive could do in foreign exchange matters, but that to the extent necessary, “some of the protection and support mechanisms that we have been implementing and that have the ability to adjust to how inflation evolves”.

The statement added that there is a sufficient amount of Dollars in cash that allow all budget requirements to be financed during this year.

“It should be noted that due to significant changes in market and/or fiscal conditions, the amounts and terms indicated above may be modified, which will be informed in a timely manner,” he said.

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