Dollar opening value in Chile on March 17 USD to CLP

The US dollar is trading at the opening at 795.80 Chilean pesos, which meant a decrease of 1.2% compared to the previous day's figure, when it ended with 805.46 Chilean pesos.

In reference to last week's profitability, the US dollar accumulated a decrease of 1.2%, although, on the contrary, in year-on-year terms it still retains a rise of 10.42%. If we compare the value with previous dates, it puts a stop to two days in a row with a positive trend. With reference to the volatility of the last week, it presents a balance that is clearly lower than the volatility shown in the figures for the last year, so it is performing more stable than the general trend in recent times.

In the last year, the US dollar has been paid at a maximum of 851.50 Chilean pesos, while its lowest level has been 790.68 Chilean pesos. The US dollar is positioned closer to its minimum value than to the maximum.

The recovery of 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 created.

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 Chilean peso 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 make coins of 20 and 200 pesos, but the bill was rejected 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 manufactured 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 coronavirus 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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