10,916.59S&P IPSA · Fri., Oct. 2 close · +0.08%

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CLP 990.2USD/CLP · Fri., Oct. 2 close · +0.36%
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, MON., OCT. 5, 2026No. 1 · Morning, 6:00 a.m. CLT6 a.m. CLT
S&P IPSA10,916.59▲0.08%10/2USD/CLP990.20▲0.36%10/2S&P 5007,722.72▲0.73%10/2WTI$91.11▼1.90%10/2Gold$4,162.30▼1.00%10/2
Economy · MarketsPress ✓ 3 outlets · closes per Emol, DF and Cooperativa (Bloomberg)

The dollar closed the week at CLP 990, its highest level since April 2025, a step away from CLP 1,000

The greenback rose CLP 28.7 in five trading sessions, in a week marked by volatility. The IPSA ended almost flat, at 10,917 points.

The dollar closed on Friday, October 2, at around CLP 990: CLP 990.2 selling rate per Emol and CLP 990.6 per DF, the highest level since April 2025. Over the week it gained CLP 28.7 and, according to Cooperativa, citing Bloomberg, touched an intraday high of CLP 993. Emol describes a week of “very high volatility” and Cooperativa, a peso with nothing to support it.

The IPSA, the main index of the Santiago Stock Exchange, rose as much as 1.1% in mid-morning after the weak US jobs report, which pushed Treasury yields down, according to DF. It closed almost unchanged, at 10,916.59 points (+0.08%), according to a report from The Rio Times; DailyDrop did not see the Exchange’s official figure. Today traders are watching whether the dollar touches CLP 1,000 and what the Central Bank says.

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By the numbers
CLP 990.2selling-rate dollar at Friday’s close (Emol)
+CLP 28.7rise over the week
10,917IPSA at the close, +0.08%
World · BrazilPress ✓ 3 outlets · percentages per La Tercera, Emol and BioBioChile

Flávio Bolsonaro won Brazil’s first round with about 47% and will face Lula in the October 25 runoff

Flávio Bolsonaro finished first in Brazil’s first round with about 47% of the vote, against about 45% for Lula, according to the counts gathered by La Tercera, Emol and BioBioChile. Since nobody passed 50%, the two will meet in a runoff on October 25. Lula admitted the result was “unexpected,” according to Emol. Kast, of the Republican Party, had not yet spoken, according to La Tercera.

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Word of the day
runoffsecond round

Final election between the two top vote-getters when neither wins an absolute majority in the first round. In Brazil, voters go to the polls again on October 25.

Politics · Mega-reformPress ✓ 3 outlets · ruling of October 2 per T13, La Tercera and El Mostrador

The Constitutional Court cleared the core of the mega-reform but struck down provisions on compensation to municipalities

The Constitutional Court (TC) closed its review of Kast’s mega-reform on Friday, October 2. It declared unconstitutional the fourth and fifth paragraphs of article 36 bis and one phrase of the seventh, which made compensation to municipalities for the end of the property tax (contribuciones) conditional, according to T13 and La Tercera. It also struck a transitional provision on the Municipal Common Fund and article 12.

It upheld tax invariability for periods of 10, 15 and 20 years. Undersecretary Máximo Pavez said what matters is moving on to promulgation; El Mostrador spoke of a “new blow” to the Government. Still pending are the Comptroller’s Office’s toma de razón and publication in the Diario Oficial.

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Chile · BudgetPress ✓ 4 outlets · figures per DF, Emol and La Tercera

Kast’s first Budget reaches Congress: CLP 91.18 trillion and a dispute over the 1.5% increase

The 2027 Budget bill totals CLP 91.18 trillion and, according to the Finance Ministry, grows 1.5% in real terms over projected 2026 spending, per DF and Emol. Using executed spending as the base, the increase would be 2.7%, the Finance Ministry itself said. Emol places its arrival in Congress on October 1; DF says the Chamber takes note of it this Monday.

Senator Yasna Provoste questioned how the 1.5% was calculated, according to La Tercera. The bill eliminates the “Yo elijo mi PC” program and allots about CLP 7 trillion to security, according to T13. Dipres will present the Public Finance Report on October 6.

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Politics · SecurityPress ✓ 3 outlets · El Mostrador and Cooperativa

The Government is open to withdrawing its constitutional reform on security and Kast rules out a “political defeat”

The Government is open to withdrawing its constitutional reform on security if an alternative text is introduced, according to Cooperativa and El Mostrador. Kast ruled out that it is a “political defeat.” The new version would leave out the state of exception and take up organized crime and the prison system.

El Mostrador noted that the bill was still “in process” in the Senate, and La Tercera said the replacement has no assured support. There is still no voting calendar.

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In brief
  • Dollar rises CLP 28.7 over the week and closes near CLP 990Emol, DF
  • IPSA 10,916.59 (+0.08%) after rising as much as 1.1% in the morningThe Rio Times, DF
  • Copper falls 1.05% on Thursday and nears US$6.50 a pound on Chinese holidaysCNN Chile
  • Wall Street: S&P 500 7,722.72 (+0.73%); WTI US$91.11 (−1.90%); gold US$4,162.3 (−1.00%)market data
  • Brazil: Flávio Bolsonaro ~47%, Lula ~45%; runoff on October 25La Tercera, Emol
  • Unemployment 9.6% in June-August: the highest since 2021BioBioChile, Emol
  • La Moneda highlights the Constitutional Court’s approval and prepares to promulgate the mega-reformLa Tercera
  • Industrial output falls 5.7% in August because of miningBioBioChile
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Unverified — what we could not confirm

“The Constitutional Court struck down the mega-reform.” False: the court upheld the core of the law and removed only some provisions, among them part of the compensation to municipalities (T13, La Tercera). El Mostrador spoke of a “blow,” but the law continues on its way to promulgation.
“The Government has already withdrawn the security reform.” Not yet: the Executive said it is willing to do so if an alternative text is introduced, and the bill was still “in process” in the Senate (Cooperativa, El Mostrador).
“Flávio Bolsonaro has already won Brazil’s presidency.” He won the first round with about 47%, but did not reach 50% and will face Lula on October 25 (La Tercera, Emol). Milei congratulated him on X for Sunday’s “historic election.”

Influencer watch

  • Javier Milei, presidente de Argentina X · 10/4Milei wrote on X: "Congratulations dear friend Flávio Bolsonaro on this historic election against the communist Lula."

Statements as posted, not fact-checked.

Glossary · dotted words — economics, politics, security and sports terms explained in the context of the story. The list grows every day.
INSIDEThe dollar closed the week at CLP 990, its highest level since April 2025, a step away from CLP 1,000Economy · MarketsFlávio Bolsonaro won Brazil’s first round with about 47% and will face Lula in the October 25 runoffWorld · BrazilThe Constitutional Court cleared the core of the mega-reform but struck down provisions on compensation to municipalitiesPolitics · Mega-reformKast’s first Budget reaches Congress: CLP 91.18 trillion and a dispute over the 1.5% increaseChile · BudgetThe Government is open to withdrawing its constitutional reform on security and Kast rules out a “political defeat”Politics · Security