Opening value of the euro in Chile this March 22 of EUR to CLP

At the beginning of the day, the euro was paid at the opening to 870.57 Chilean pesos on average, so it implied a rise of 0.37% compared to the previous day's figure, when it was 867.36 Chilean pesos on average.

Taking into account last week, the euro marked a decline of 0.72%; however, for a year now it has still maintained a rise of 0.45%. If we compare the figure with previous days, it reverses the result of the previous day, in which it ended with a decrease of 2.48%, recently showing a lack of stability in the result. In reference to the volatility of the last week, it shows a higher return than the volatility shown in the last year's figures, which indicates that it is going through a phase of instability.

In the annual photo, the euro has changed by a maximum of 965.23 Chilean pesos on average, while its lowest level has been 865.16 Chilean pesos on average. The euro is placed closer to its minimum than 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 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 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 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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