BUENOS AIRES, Oct. 11 (Xinhua) -- Chile's central bank announced Saturday that it would inject 5 billion U.S. dollars into the country's financial system to boost market liquidity and investors' confidence, according to news reaching here from Santiago.
The bailout move will begin next week, and each time the central bank will inject 500 million dollars with a return deadline ranging from 60 days to 90 days, said officials of the bank.
They said the injection was designed to increase the liquidity of the financial market as well as demonstrating the central bank's determination to stabilize the market.
The bank will watch closely both the international and domestic financial situations and is ready to take more measures if necessary, they said.
Chile's financial market has seen a radical shake recently under the dim international environment.
The country's stock market plunged sharply, and its currency peso sank against dollar to a new four-year low Friday.
Peso, one of Latin America's strongest currencies, has fallen 10.6 percent this week by dropping to 638.25 per dollar Friday.
