The euro traded at the close at 876.78 Chilean pesos on average, which meant a decrease of 1.26% compared to 887.98 Chilean pesos on average the previous day.
With reference to the profitability of the last seven days, the euro registered a rise of 1.07% and for a year it has still accumulated a rise of 1.1%. In relation to the variations of this day compared to previous days, the direction of the previous result changed, which resulted in an increase of 0.66%, demonstrating that it is not able to establish a stable trend in recent days. In reference to the volatility of the last week, it is subtly lower than the numbers achieved for the last year (19.92%), so it is performing more stable than usual lately.
In the annual photo, the euro has reached a maximum of 965.23 Chilean pesos on average, while its lowest level has been 865.16 Chilean pesos on average. The euro is closer to its minimum than its 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 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 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 COVID-19 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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Agencies