The Chilean peso experienced a sharp depreciation on August 6, 2025, following an unexpected announcement by the Banco Central de Chile regarding plans to accumulate international reserves. The central bank's decision surprised investors, as it had previously indicated satisfaction with the existing level of foreign currency holdings. This announcement triggered a surge in the US dollar's value against the peso, with the dollar rising more than 13 Chilean pesos at the market opening and maintaining gains above 10 pesos through midday. The move also contributed to increased volatility in the foreign exchange market. Meanwhile, the official dollar rate in Chile had been declining for several days prior to this announcement, easing from a peak reached in July amid pre-electoral demand pressures. In contrast, the Mexican peso strengthened against the US dollar on the same day. The copper market was also affected, with prices influenced by a tragedy at the El Teniente mine. The Banco Central's intervention and accumulation of reserves drew criticism from market participants, reflecting concerns over the central bank's shift in policy stance.