The political change in Chile was reflected in the exchange rate. (Infobae)
On the last day the American dollar was negotiated at closing Average 920.25 Chilean pesoswhich represents a change of 0.69% from the previous day’s value, which ended at an average of 913.90 Chilean pesos.
In the last seven days the American dollar notes an increase 3.32% and last year it still accumulated an increase of 12.96%.
Compared to previous dates, it ended the flat market price streak of the last two sessions. Last week’s volatility was 11.82%, well below the annual volatility (20.6%), showing that the price has seen less fluctuation than normal in recent data.
He Chilean peso It has been the legal tender of Chile since 1975, reverts to using the peso sign ($) and is regulated by the Central Bank of Chile, which controls the amount of money created.
Chilean currency was introduced in 1817 after the country’s independence, but it was not until 1851 that the decimal system was introduced in the Chilean peso, which today consists of 100 centavos. However, over time the Chilean peso has changed Currently the calculation is in whole pesos.
To date you can find Coins in denominations of 5, 10, 50, 100 and 500 pesosThe latter was the first bimetallic coin produced in the country. In 2009, an attempt was made to create 20 and 200 peso coins, but the project was rejected by Congress. Meanwhile, in 2017, it was decided to stop issuing 1 and 5 peso coins.
Likewise, the Central Bank of Chile announced in October 2018 that it would begin doing so Withdrawal of 100 peso coins from circulationproduced between 1981 and 2000 to reduce their coexistence with current coins, although they are still valid.
As far as economic matters are concerned, Chile had a strong fiscal response in 2021, allowing growth to 11.7%, representing one of the fastest recoveries globally after the coronavirus pandemic. This situation is due to consumption driven by the withdrawal of pension funds and direct fiscal support.
Despite this, The recovery on the labor market was slower and inflation has also hit Chile, fueled by strong demand pressures, rising commodity prices, supply disruptions and the devaluation of the peso, ultimately leading to the highest public debt in three decades (37%).
By 2022, gross domestic product (GDP) growth will slow and this trend may continue, according to the latest forecast from the Economic Commission for Latin America and the Caribbean (ECLAC), which explained this until 2023 that this South American country will fall by 0.9 percent.