Dollar: closing price today January 5 in Chile


The political change in Chile has been reflected in the exchange rate. (Infobae)

In the last session the American dollar was negotiated at closing to 852.39 Chilean pesos on averageso that it represented a change of 1.15% if compared with the 862.35 Chilean pesos on average of the previous day.

If we consider the data of the last week, the American dollar accumulated a decrease in 0.42% although, on the contrary, for a year it has still maintained a rise of 8.94%.

If we compare the value with previous dates, lately showing a lack of continuity in the results. The volatility figure was 15.39%, which is lower than the annual volatility data (20.52%), presenting itself as a value with fewer changes than expected in recent times.

The recovery of the Chilean peso

The Chilean peso It is 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 created.

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 currency has been changing, but it is currently accounted for 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 an attempt was made to make coins of 20 and 200 pesos, 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 initiate the Withdrawal from circulation of 100 pesos coinsmanufactured 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 SARS-CoV-2 pandemic, especially after closing 2021 with inflation of 7.2%, its highest level in 14 years and well above the goal of the Central Bank, which was 3 percent.

Although for this 2022 the International Monetary Fund (IMF) has revised downward the growth of most Latin American countries, this is not 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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