At the beginning of the day, the US dollar was trading at the opening at 790.69 Chilean pesos on average, which meant a decrease of 1.53% compared to the previous day's figure, when it ended with 803.01 Chilean pesos on average.
Compared to the last seven days, the US dollar accumulated a decline of 0.87%, although, on the contrary, for a year it has still maintained a rise of 8.39%. If we compare the value with previous days, showing that it is not able to establish a clear trend recently. Volatility in relation to the last week shows a subtly lower behavior than the volatility shown in the last year's data, showing itself as a value with fewer variations than expected lately.
In the annual photo, the US dollar has reached a maximum of 851.50 Chilean pesos on average, while its lowest level has been 790.68 Chilean pesos on average. The US dollar is positioned closer to its low than to its maximum.
Chilean peso overview
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 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 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 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 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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Agencies