Monday, May 28, 2007

Chile Peso Falls on Speculation Pension Fund Changes Will Boost Outflows

(Bloomberg) -- Chile's peso fell as investors
expected new rules for pension fund investments will increase
money outflows.

President Michelle Bachelet proposed on May 21 that pension
funds be allowed to hold 45 percent of their assets in foreign
holdings, up from 30 percent. The president is expected to
submit a bill to legislators.


Read more at Bloomberg Currencies News

No comments: