MercoPress. South Atlantic News Agency

US dollar in Chile record high

The US dollar in Chile reached a new record closing this Wednesday in Santiago' money market at 716,50 pesos.

This is the highest since October 9th., when the US dollar reached 719,50 pesos as a direct consequence of the September terrorist attacks in the United States and the beginning of the war in Afghanistan.

However, this time and according to local analysts the Chilean market was reacting to the Brazilian government's limited success in rolling over 1,6 billion US dollars in domestic debt. The Brazilian Central Bank refused to accept interest rates of 50%.

When the news became public, many Chilean corporations and financial institutions strengthened their standing by converting into US dollars.