Dilma Rousseff has taken measures to stop the appreciation of the real. The Brazilian Central Bank swapped all of the currency futures contracts in a reverse swap auction. This way the institution headed by Alexandre Tombini disembarks in the futures market.
Chile's peso was operating Thursday at 495 to the US dollar after depreciating around 6% in two sessions on a 12 billion US dollars central bank intervention program announced this week.
The US dollar ended 2010 at a record low vis-à-vis the Chilean peso which has soared on the strong global demand for copper, the country’s main export. On Friday December 31st the US dollar was operating at 467.30 and 467.80 in Santiago’s money markets, which is the lowest since May 19, 3008 with 467.40.
Gold closed 2010 with its strongest annual performance since 2007 and marking a fifth straight month of gains in December, driven by a weaker dollar and global economic uncertainty.
Senators representing agricultural parts of Chile strongly criticized the Central Bank and President Sebastian Piñera this week for turning a deaf ear to the “social, cultural and economic problems” created by the falling value of the US dollar, now hovering at 470 pesos to the dollar.
The U.S. dollar will be a safe investment for the next six to 12 months because global markets are focused on the Euro zone's troubles but the US fiscal health is worse than Europe's, an adviser to the Chinese central bank said on Wednesday.
Following is a text of a letter from President Barack Obama to G20 leaders due to meet in Seoul from tomorrow. The letter was sent on Tuesday.
Treasury Secretary Timothy Geithner vowed that the United States would not devalue the dollar for export advantage, saying no country could weaken its currency to gain economic health.
Surging capital inflows threaten Asia's economic stability, the World Bank warned after Treasury Secretary Timothy Geithner sought to draw the venom from a global row over currencies by vowing not to devalue the dollar.
World stocks jumped to a six-month high, gold hit another record, and the dollar weakened on Wednesday on expectations that the US Federal Reserve will further loosen monetary policy, boosting risk appetite.