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Peso may depreciate further after Fed tapering: minister
September 11, 2013 / 5:03 PM / in 4 years

Peso may depreciate further after Fed tapering: minister

LONDON (Reuters) - The Chilean peso’s 6 percent fall this year is a healthy correction from its strong path in 2012 and it may weaken further once the U.S. Fed cuts back monetary stimulus, Chile’s finance minister said on Wednesday.

“I regard this as a healthy correction,” Felipe Larrain told Reuters and Reuters Insider in interviews.

“When (Federal Reserve policy) tapering starts to happen ... we will probably get some additional depreciation of the currency but with reasonable terms.”

Larrain also said achieving Chile’s 4.5 percent growth target for 2013 “is possible, I think ... the average so far in the first 7 months is 4.5 percent so it’s feasible to end at 4.5.”

Reporting by Carolyn Cohn, Sujata Rao and Jamie McGeever; Editing by Ruth Pitchford

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