The euro is quoted at the opening at 885.17 Chilean pesos on average, which represented an increase of 2.43% compared to the 864.15 Chilean pesos on average the previous day.
Taking into account the last week, the euro marks a rise of 2.11%; however, in the last year it still maintains a decrease of 2.13%. If we compare the value with past days, it chains two consecutive dates in positive digits. As for the volatility of the last days, it is slightly lower than the numbers achieved for the last year (19.47%), which shows that we can say that it is going through a period of greater stability recently.
In the annual photo, the euro it has been exchanged at a maximum of 965.23 Chilean pesos on average, while its lowest level has been 840.57 Chilean pesos on average.
Chilean Peso Outlook
The Chilean peso has been the legal currency 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 minted.
The Chilean currency was established in 1817 after the country’s independence, but it was not until 1851 that the decimal system was established in the Chilean peso, which is now made up of 100 cents. As time has passed, the Chilean peso has been changing, but currently it is counted in whole pesos.
To date you can find coins of 5, 10, 50, 100 and 500 pesos, the latter was the first bimetallic coin produced in the country. In 2009, attempts were made to make 20 and 200 peso coins, but the project was repudiated by Congress. Meanwhile, in 2017 it was approved to stop issuing the 1 and 5 peso coins.
Likewise, in October 2018, the Chilean Central Bank announced that it would begin the withdrawal from circulation of the 100-peso coins manufactured between 1981 and 2000, in order to reduce their coexistence with current coins, although they are still valid.
Regarding economic matters, Chile has suffered the blow from the COVID-19 pandemic, especially after closing 2021 with an inflation of 7.2%, its highest level in 14 years and well above the goal of the Central Bank that was 3 percent.
Although for this 2022 the International Monetary Fund (IMF) has revised downward the growth of most Latin American countries, this has not been the case 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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