The euro traded at the close at 875.35 Chilean pesos on average, which implied a rise of 0.92% compared to the price of the previous day, when it ended with 867.36 Chilean pesos on average.
In the last week, the euro accumulated a decrease of 0.18%, although, on the contrary, in year-on-year terms it still maintains a rise of 1%. In relation to the variations of this day compared to previous days, it reversed the value of the previous day, when it obtained a decrease of 2.48%, demonstrating that it is unable to consolidate a clear trend in recent days. The volatility for the last week was higher than that accumulated in the last year, which shows that it is going through a phase of instability.
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 positioned closer to its minimum value than to the 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 in circulation.
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 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