US dollar rises 16 Chilean pesos to CLP 962.95

The US dollar rose 16 Chilean pesos to CLP 962.95 on 23 September 2026, according to the Bolsa Electrónica de Chile. The move ended a streak of three consecutive sessions of declines. It marked the highest level for the currency pair since 3 October 2025, when it closed at CLP 965.80, and the largest single-day advance since 5 June 2026, when it gained CLP 19.80.

The Chilean peso weakened alongside a drop in copper prices. Copper fell 0.42% to $6.68 per pound on the London Metal Exchange. At the same time, the US Dollar Index strengthened 0.51% to 100.83 points, supported by market expectations of at least two additional rate hikes by the Federal Reserve.

Geopolitical tensions also weighed on markets. Donald Trump had raised the possibility of annihilating the Islamic Republic during his UN General Assembly speech on 22 September 2026. On 23 September 2026, the Iranian government confirmed a meeting held the previous day in New York between Iranian foreign minister Abbas Araqchi and US presidential envoy Steve Witkoff. Witkoff stated that mediators completed a round of discussions successfully and expressed hopes for constructive progress. Brent crude rose 4% to $103.18 per barrel, while WTI gained 2.1% to $92.40 per barrel.

Market analysts evaluated technical resistance levels for the exchange rate. Guillermo Araya, head of research at Renta4, noted technical resistance levels at CLP 964, CLP 970, and CLP 980. Emanoelle Santos, market analyst at XTB, noted that reaching CLP 1,000 would require an advance of roughly 4% from CLP 962, citing technical resistance zones between CLP 963 and CLP 965, followed by CLP 968 and CLP 976. Agustín Vargas, analyst at Capitaria, stated that moving toward CLP 1,000 would require clearing resistance around CLP 965 toward CLP 980, supported by a stronger global dollar, US rate pressures, deeper copper corrections, or geopolitical risks.