Posts Tagged ‘dollar’

Over the past couple of weeks, the Chilean Peso has dropped from about 472:1 CLP/USD ratio, to nearly 505:1 as of the time of writing.

Bad news for those of us, like myself, who changed a big batch of dollars to pesos not terribly long ago. Good news for those, like myself, who continue to earn in dollars.

 

According to this article, Paraguay’s Banco Central recently increased its reserves from 33.8 to 426.5 million dollars (nearly 400 million more) worth of gold to expand their precious metal reserves and diversify from the US dollar.

Rafael Lara, a director of the Banco Central, explains, “We aim to diversify our assets with currencies which provide no risk to the parent bank, and also because Dollar investments are kept close to 0% interest, a trend which will continue until the United States decides to withdraw stimulus to its economy, which markets predict will not happen until 2015.”