The Chilean central bank has started a currency market intervention program on Jan. 4, 2011, The Wall Street Journal reports. The bank has purchased about $50 million in dollars on the local market. The central bank will buy an equal amount daily between Jan. 5 to Feb. 9, 2011. The central bank is seeking to expand its foreign-currency reserves by $12 billion in 2011 in order to strengthen the peso, which is affecting the competitiveness of the exports.
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