Reuters: US Dollar Report: Chile exchange rate sparks 'worry,' intervention not required- cbank

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Chile exchange rate sparks 'worry,' intervention not required- cbank Sep 7th 2012, 13:09 SANTIAGO, Sept 7 | Fri Sep 7, 2012 9:09am EDT SANTIAGO, Sept 7 (Reuters) - Chilean Central Bank President Rodrigo Vergara said on Friday there "exists worry" over the exchange rate but that conditions for currency intervention have not been met. The Chilean peso has strengthened around 9 percent versus the U.S. dollar since the start of the year, sparking market speculation over potential intervention. The central bank used a dollar-purchasing program last year, which lasted through December, to beat back the peso after it appreciated to its highest level in more than 2-1/2 years at 465.50 per dollar. The peso was trading around 473.80 per dollar on Friday morning.

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