UNFAVORABLE EXCHANGE POSITION DEVELOPING.

Document Type: 
Collection: 
Document Number (FOIA) /ESDN (CREST): 
CIA-RDP83-00423R000701050001-7
Release Decision: 
RIPPUB
Original Classification: 
C
Document Page Count: 
1
Document Creation Date: 
November 9, 2016
Document Release Date: 
January 20, 1999
Sequence Number: 
1
Case Number: 
Publication Date: 
July 2, 1953
Content Type: 
REPORT
File: 
AttachmentSize
PDF icon CIA-RDP83-00423R000701050001-7.pdf48.93 KB
Body: 
'Sani 701050001-7 25X1A2g COUNTRY: Chile SUBJECT: Unfavorable Exchange Position Developing. PI .CE ACQUIRED: -- -- DATE ACQUIRED : - 25X1A6a DATE OF INFORMATION: Jun 53 ..6 25X1X6 1. With the copper price at US 30$ per pound in the US, and a trend for possible lower copper prices in sight, US exporters should watch ex- change developments in Chile carefully. According to the latest in- formation on hand, Chile has 40 thousand tons of copper unsold and further piling up of this inventory is in sight. 2. The copper shortage which prevailed in 1951 is now reversed. Copper production for this year will be slightly over the demand for copper and further gain in copper production is predicted for the near future. No one can estimate now where the copper price will stabilize itself on the world market but metal men in general expect lower copper prices. 3. The Chilean government buys copper from the producers at US 21i $. Each one cent cut would mean, according to the Central Bank, a revenue loss of eight and one-half million dollars in exchange. 25X1X6 nis unevaluated information for US Officials Only is su p eI for the i P= +' interest of your analysts. It ~'c s rot Fv!arrarrt dissemi- nation hymeport. 25X1A2g RETURN TO CIA Sanitized - Approved For Release : CIA-RDP83-00423R0bt001-7