MercoPress. South Atlantic News Agency
Dollar in Chilean Pesos climbs to its highest level since December 2008
The US dollar ended Thursday trading in the Chilean money exchange market at its highest since December 2008, that is 674 Pesos for the greenback. Currently and seven years ago the main reason has been the US monetary policy: the sub-prime crash in the US and fears of the debacle expanding to the rest of the world, and now growing chances of the Federal Reserve deciding on a rise of the prime rate. Read full article
Comments
Disclaimer & comment rulesOOps! devaluation and inflation comming perhaps???
Jul 31st, 2015 - 10:08 am - Link - Report abuse 0Danyboy
Jul 31st, 2015 - 06:38 pm - Link - Report abuse 0Nope! Quite the opposite.
Chile's central bank is completely independent and the reasons for the weaker Peso is due to economic factors alone. Chile certainly has it's problems, especially due to Bachelet's poor decisions, especially tax wise, but we still have the most stable and free market economy in South America.
chile is coming to an end.
Jul 31st, 2015 - 09:55 pm - Link - Report abuse 0not only for their inestable economy, but also, and more important, because of desertification.
even earthquakes and tsunamis are nothing compared with this advance of desertification.
and of course, these useless chilotes dont have the slightest clue about how to solve the problem.
”Two thirds of Chile's territory is facing desertification in which the bone-dry Atacama Desert grows by over a meter (3.3 feet) a day”
This is great news for Chile.
Jul 31st, 2015 - 11:42 pm - Link - Report abuse 0A weaker peso means imports become more expensive and exports become cheaper. This is how a market naturally reacts to economic weaknesses
I'm unsure what Dany is talking about considering this exchange rate IS a devaluation!!!! The rate has gone from about 570$ to 674$
And while more expensive imports can stoke inflation, its annual rate is equal to what Argentina suffers every 2 months and unlike Brazil, Venezuela and Argentina it isn't a basket case in recession.
Chile is still growing and still the most economically stable and wealthiest South American country.
No wonder Paul and Dany are so jealous. Who knows you could find a job there Paul.
anything to do with argentina on the road to society collapse instead of a bs election?
Aug 01st, 2015 - 02:10 am - Link - Report abuse 0@Skip
Aug 01st, 2015 - 02:27 am - Link - Report abuse 0Oh! sure the Chilean Dream...
Poverty everywhere
https://www.youtube.com/watch?v=_2iF2YvJ7b4
https://www.youtube.com/watch?v=_2iF2YvJ7b4
https://www.youtube.com/watch?v=_2iF2YvJ7b4
https://www.youtube.com/watch?v=_2iF2YvJ7b4
Dany
Aug 01st, 2015 - 07:02 am - Link - Report abuse 0Find me a country without poverty and then try replying to the article.
Economically Chile is doing better than Argentina. Try to facing the reality of the poverty there instead of ignoring it.
I'm sure there's plenty of YouTube clips on the villas miserias but I can't be stuffed posted them when you live so much closer to them.
The important cross rates look OK to me... esp this one http://www.xe.com/currencycharts/?from=AUD&to=CLP&view=5Y
Aug 01st, 2015 - 07:31 am - Link - Report abuse 0Which is better ..that or this? http://www.xe.com/currencycharts/?from=AUD&to=CLP&view=5Y
or maybe even this..? http://www.xe.com/currencycharts/?from=AUD&to=CLP&view=5Y
I'm amazed any trolls even come up for air... let alone comment.
@Skip
Aug 01st, 2015 - 08:36 am - Link - Report abuse 01-Dear Skip Chile is a very poor country compared to Argentina
Let' me enlighten you with a little comparison...
The State of Buenos Aires (Not wealthy City of BA included in it that has more than U$s32.000 nominal per capita) produces U$s248 billion GDP and has 15M people.
Buenos Aires State has a territory little than chile and 2.508 million less population than chile (chile 17,508,260).
GDP of chile nominal= $258 billions
As you can see Chile GDP nominal is only U$s10 billions higher than the state of Buenos Aires.
Chile Nominal per capita: U$s14.7361
BA State Nominal GDP: U$s16,5333
2-Buenos Aires State is the 2nd state more industrialised in Latam after Sao Pablo and the 5th in the whole Americas after US, Brazil, Canada and Mexico.
According with Clarin the most anti-k media in this world BA state has 350.000 people living in shanty towns that would be 2.35% of the total population and in Argentina and (99% are illegal immigrants from Chile, Peru and Paraguay) and is a big scandal while in chile figures shows that people living in shanty towns could be in between 4m to 8 millions depending how poverty is measured.
As you can see there is nothing to compare with Chile which is a poor country compared with Argentina in all spects specially in education standards of livings, industrialisation, infrastruture, technology or whatever you want to compare to...
Chile 4m poor a pain for the eyes...
https://www.youtube.com/watch?v=Gt-X15k3KKQ
https://www.youtube.com/watch?v=Gt-X15k3KKQ
DB is just baiting, Having spend a lot of time in both countries, unlike him, Chile is far more wealthy and close to being a developed country. Argentina once was effectively wealthy and developed but pissed it away to third world.
Aug 01st, 2015 - 09:13 am - Link - Report abuse 0Whilst individuals, like CFK and her cronies, may hold considerable wealth, the average Argentine is poor by comparison to the average Chilean.
DB, you re talking out of pure ignorance.
9. The Ks have been fudging GDP for many years. When you get a legitimate gov't ( if ever) you'll find your GDP is probably around 2001 levels with little to no growth over the last decade.
Aug 01st, 2015 - 12:03 pm - Link - Report abuse 0Plus those GDP numbers are based on a Gov't rate that is a joke.
Use the blue rate and what do you get?
Waaay less every single day..
:)
People like Elaine travel regularly to Santiago and Buenos Aires.
Aug 01st, 2015 - 12:59 pm - Link - Report abuse 0They see through the B.S. Argentine statistics that claim the poverty rate is less than 5%.
Chile has it's problems, but is FAR better off than Argentina...
I don't know what is sadder or more pathetic!
Aug 01st, 2015 - 11:56 pm - Link - Report abuse 0That Dany believes the GDP figures of INDEC (which are fabricated from false growth and inflation figures) or that Argentina is the only nation in South America where their slum population is 99% foreign. Reminds me of Cristina recently claiming how low poverty was.
Chile is on a long and slow upward trajectory. Argentina is on a roller coaster and currently on the downward trajectory. The next up will be wild and fast but the down is always just over the horizon.
Argentina was once so far ahead of all the surrounding countries like Brazil and Chile. No longer. That's absolute decline not just relative decline.
@ElaineB
Aug 02nd, 2015 - 03:01 am - Link - Report abuse 0The average Chilean is very poor compared with the Average Argentine, you don't know Argentina.
This is funny a person earning cl$2.403 per day or cl$72.098 per month is not considered poor in chile that is equal to U$s3.7 p/d or or $33
(ARG pesos) per day or AR$990 per month.
So according with this and despite that Argentina is cheaper than Chile a person earning that much would be an indigent in Argentina where in
chile wouldn't be counted even as a poor.
https://www.youtube.com/watch?v=G8qS-AgUuVQ
@Chicureo
Nope just an ilusion Chile is a poor country compared with Argentina.
Can you explain to us what a rich chilean can do with Cl$72.098 per month????
The average rent of an apartment in Santiago cost Cl$ 450.000, a coffee cl$1.600
, cl$630 average urban bus ticket, etc.
So a chilean drinking 2 cups of coffee diary will expend cl$96.000 (He has to get a loan to cover the difference), if he has to take a bus to
go to work and return home she/he will spend more than half of her/his monthly income.
Cachai???? see below please to see rich chileans.
https://www.youtube.com/watch?v=G8qS-AgUuVQ
@Skip
You live in fantasyland, Chile is a poor country compared with Argentina no matter how you measure it or what statistic you want to use.
Chile says in its statistics to have a middle class when in fact 80% of this middle class are poor earners just few $$ over cl$72k.
Explain us how a person with cl$72.000 per month is not poor in chile????
About the ShantyTown, etc
You don't need any stitistic you can see them here just Peruvians celebrating the anniversary of thier independence day in villa 31.
The only Argentinean there is the social worker who is interviewed by the Peruvian TV. The peruvian journalist well explained who live there when he named the differents nationalities of the Villa 31 slum.
https://www.youtube.com/watch?v=G8qS-AgUuVQ
@14
Aug 02nd, 2015 - 08:38 am - Link - Report abuse 01) When were you last in Argentina, if ever?
2) Have you ever been to Chile?
@ElaineB
Aug 02nd, 2015 - 06:08 pm - Link - Report abuse 01-Today and you?
2-Yes and you?
Now explain to us how CASEN (the observatory of social development of Chile index) considers in their fake statistics a person with an income
of cl$ 72.000 per month to be not poor????
This is AR$999 in Argentina or U$s106,82
Do you know the prices in Chile???
Do you condisider that someone with cl$72k per month can live in Santiago for example when the rent of an apartment for a dog with one room
cost cl$300.000 or U$s445,10?
I don't know you but for me it is quite difficult, don't you think so?
https://www.youtube.com/watch?v=BR9M-k_hpII
In 2007 Felipe Larraín, former minister of “hacienda” of Chile (during Piñera presidency) questioned the CASEN index and in his own words
said:
“This way to measuring poverty is a waste of time” and he also made an estimation that porverty measured by other method will give 3 times
higher than official figures.
According with CASEN published stats from 2011 53% of chliean workers earns less than cl$251.620 (U$s373,32) and this are cooked fake stats
and 70% less than cl$426.000 (U$s632,04)
So as you can see 70% of chilean work force not even can earn an ARG's minimun wage.
That explains the last work of EFH from central bank of Chile where says that 63.8% of chilean homes with high income live with a debt burden
of 36% of their income while the rest with a 45%.
In chile exist more than 700 “campamentos” (Shanty towns).
The super rich chilean living with Cl$72k per month made from the rubbish dumps.
https://www.youtube.com/watch?v=BR9M-k_hpII
Cachai Elaine! why the average Chilean is far poor than the poor “low income” in Argentina or do you need more figures that will make chilean even more poor????
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