On Monday, October 5, the Budget Directorate (Dipres), part of the Finance Ministry, announced that it will sell dollars of up to US$600 million a week during October, with a maximum of US$2,400 million. The announcement halted the dollar as it approached CLP 1,000. The currency closed at CLP 973.6 buying and CLP 973.9 selling, a fall of CLP 18.79 according to Emol and of more than CLP 17 according to DF and BioBioChile; La Tercera described it as the biggest daily drop in more than a year. A Scotiabank trader cited by the press estimated that the biggest effect was already seen on Monday and that the additional impact would be limited. Emol relayed an analysis according to which this is not a Central Bank intervention but sales tied to the financing needs of the national treasury, and the amounts may change. According to a report by The Rio Times, the IPSA rose 1.91 percent to about 11,125 points, on a day of gains in the region after the election in Brazil. DailyDrop did not see the official close of the Santiago Stock Exchange.
A cheaper dollar eases the cost of imports and fuel, and lowers pressure on inflation. But the measure is temporary and depends on the national treasury actually selling, so the market stays alert to how much materializes week by week.
If you need dollars to travel or pay bills, the price fell about 2 percent in a day; however, no one can guarantee it will hold. If you export or receive remittances, you get fewer pesos per dollar than on Friday.
For the government it is a practical tool: it uses resources the national treasury needs to convert anyway, without touching the Central Bank’s reserves, and calms expectations ahead of Thursday’s inflation rate.
Several traders warn that an announcement effect wears off quickly and that the root of the problem, high unemployment and the weak peso, is still there. If the program is not carried out, the dollar could rise again.
One day does not make a trend. What to watch: how much Dipres actually sells each week, whether the dollar stays below CLP 980 and what Thursday’s inflation figure says. If the effect fades, the CLP 1,000 level is in play again.
Emol, DF, CNN Chile, BioBioChile, La Tercera, The Rio Times (Oct. 5, 2026)
Dollar plunges CLP 18.79 and closes below CLP 974 after Finance Ministry announces sales of up to US$600 million a week
The move halted the climb of the greenback, which had closed last week at around CLP 990. The IPSA rose 1.91 percent and the peso led the regional recovery.
The Budget Directorate (Dipres) announced on Monday, October 5, that it will sell dollars of up to US$600 million a week through October, with a cap of US$2,400 million. The dollar fell CLP 18.79 and closed at CLP 973.9 at the selling rate, according to Emol; DF and BioBioChile cite a drop of more than CLP 17, and La Tercera the biggest fall in more than a year.
A Scotiabank trader estimated that the biggest effect has already been seen. An analysis cited by Emol says it is not a Central Bank intervention but sales tied to the financing of the national treasury. The IPSA rose 1.91 percent to about 11,125 points, according to The Rio Times, on a day of regional gains after the election in Brazil. DailyDrop did not see the official close of the Santiago Stock Exchange.