- Monetary unit:
- the Country code:
- Chile, Republic
- Peso Chili
- of 756 950 sq. km
- the Spanish (state)
- CL (CHL) 152
National monetary unit of the country is the peso Chili who is equal 100 centesimos. In circulation there are notes in nominal value 1000, 2000, 5000, 10000 and 20000 peso. Issuing institute - Central bank of Chile; it is based in January, 1926 as a government agency. The international designation of the peso Chili - CLP .
Till 1960 country monetary unit was the peso, equal 100 centavo. In 1895 the peso gold content has been positioned = 0,549175 g of pure gold, a parity rate to pound sterling - 1 peso = to 18 pence (13,33 peso for 1 pound sterling). Till 1936 the peso rate to other currencies was defined through quotations to pound sterling. The law from September, 16th, 1925 with allowance for actual depreciation of paper peso positions its gold content in 0,183057 g that there corresponded to a parity rate 40 peso for 1 pound sterling (1 peso = to 6 pence).
Since January, 1st, 1960 instead of peso the new monetary unit - escudo is entered; token moneys have been interchanged on a parity 1 escudos = 1000 peso. Since January 1960 till January, 1962 on all currency transactions the official rate 1,053 escudos for 1 dollar was applied.
After power grab in September, 1973 military junta the currency of Chile constantly depreciates. Since September, 29th, 1975 instead of the depreciated escudo the new monetary unit - peso on a parity 1000 escudos for 1 peso is entered. Originally the peso rate made 6,5 peso for 1 US dollar. Since June, 16th, 1982 as a result of devaluation the peso rate has been reduced to 46 peso for 1 dollar and its gradual (sliding) devaluation was provided.
Notes in new design in nominal value 2000, 5000, 10000 and 20000 peso have been manufactured in 2009 and 2010, and the most widespread denomination 1000 peso has changed the shape and began to be printed on polymer on May, 11th, 2011. Notes 2000 and 5000 peso were produced of polymer in 2004 and 2009, accordingly.
In Chile importation and exportation of local money are supposed. As to foreign currency it also is imported and removed
It is updated 05.2012