Closing value of the dollar in Chile this March 17 of USD to CLP

On the last day, the US dollar was paid at the close to 799.40 Chilean pesos on average, which meant a decrease of 0.75% compared to the previous day's figure of 805.46 Chilean pesos on average.

Compared to last week's profitability, the US dollar accumulated a decline of 0.75%; although in the last year it still maintained an increase of 10.92%. Compared to previous days, it ended two sessions of positive streak. With regard to the volatility of the last week, it is visibly lower than the data obtained for the last year (13.4%), so we can say that it is going through a period of greater stability recently.

In the annual photo, the US dollar has even changed by a high of 851.50 Chilean pesos on average, while its lowest level has been 790.68 Chilean pesos on average. The US dollar is closer to its low than its maximum.

The Chilean peso

The Chilean peso has been the legal tender of Chile since 1975, it resumes the use of the peso sign ($) and is regulated by the Central Bank of Chile, which controls the amount of money minted.

The Chilean currency was established in 1817 after the country's independence, but it was until 1851 that the decimal system was established in the Chilean peso, which is now 100 cents. As time has passed, the currency has been changing, but it is currently counted in whole pesos.

To date, you can find coins of 5, 10, 50, 100 and 500 pesos, the latter being the first bimetallic coin produced in the country. In 2009, attempts were made to create coins of 20 and 200 pesos, but the bill was repudiated by Congress. Meanwhile, in 2017 it was approved that the 1 and 5 peso coins should be discontinued.

Likewise, in October 2018, the Chilean Central Bank announced that it would begin to withdraw from circulation of 100-peso coins created between 1981 and 2000, in order to reduce their coexistence with current currencies, although they are still in force.

In terms of economic matters, Chile has resented the blow caused by the SARS-CoV-2 pandemic, especially after closing 2021 with inflation of 7.2%, its highest level in 14 years and well above the Central Bank's target of 3%.

Although for 2022 the International Monetary Fund (IMF) has revised the growth of most Latin American countries downwards, not so for Colombia, Peru and Chile, whose expectations continue to rise after showing surprising growth and recovery at the end of 2021.

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