Chile Peso and US Dollar
While most currencies depreciate against the US Dollar in Year 2009, the Chile Peso has gained some 20% against the US Dollar. While the strengthens the purchasing power of Chileans, it does not do any good for Chilean exporters as their products are now more expensive and less desirable. It is a known fact that a strong peso brings down import prices, contributing to lower consumer prices.
As recent as Nov 2009, 1 US Dollar trades at 485.0 Chilean Peso (CLP) while things are quite different just in late August 2009 when the exchange rate of Chilean Peso against US Dollar was weak (1 US Dollar = 562 Peso).
In the past 2 weeks, the US Dollar has strengthened against major currencies including the Chilean Peso (CLP) (more…)
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