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Chile Currency

ISO 4217 code
CLP
Central bank
Banco Central de Chile
 Website
www.bcentral.cl
User(s)
Chile
Inflation
1.5%
 Source
2009 (INE)
Symbol
(or $, due to its
availability in the
western keyboard).
Coins
1, 5, 10, 50, 100, 500
pesos
Banknotes
1000, 2000, 5000,
10,000, 20,000 pesos
Mint
Casa de Moneda
 Website
www.cmoneda.cl
The peso is the
currency of Chile. The
current peso has
circulated since 1975,
with a previous version
circulating between
1817 and 1960. The
symbol used locally for
it is $. The ISO 4217
code for the present
peso is CLP. It is
subdivided into 100
centavos, although no
centavo denominated
coins remain in
circulation. The average
exchange rate of the
Chilean peso to the U.S
dollar was 1 U.S. dollar
to 529.45 Chilean pesos
in December 2013.
First peso, 1817–
1960
The first Chilean peso
was introduced in 1817,
at a value of 8 Spanish
colonial reales. Until
1851, the peso was
subdivided into 8 reales,
with the escudo worth
2 pesos. In 1835, copper
coins denominated in
centavos were
introduced but it was
not until 1851 that the
real and escudo
denominations ceased
to be issued and further
issues in centavos and
décimos (worth 10
centavos) commenced.
Also in 1851, the peso
was set equal 5 French
francs on the silver
standard, 22.5 grams
pure silver. However,
gold coins were issued
to a different standard
to that of France, with
1 peso = 1.37 grams
gold (5 francs equalled
1.45 grams gold). In
1885, a gold standard
was adopted, pegging
the peso to the British
pound at a rate of 13⅓
pesos = 1 pound (1 peso
= 1 shilling 6 pence).
This was reduced in
1926 to 40 pesos = 1
pound (1 peso = 6
pence). From 1925, coins
and banknotes were
issued denominated in
cóndores, worth 10
pesos. The gold
standard was
suspended in 1932 and
the peso's value fell
further. The escudo
replaced the peso on 1
January 1960 at a rate 1
escudo = 1000 pesos.
Coins
Between 1817 and
1851, silver coins were
issued in denominations
of ¼, ½, 1 and 2 reales
and 1 peso (also
denominated 8 reales),
with gold coins for 1, 2,
4 and 8 escudos. In
1835, copper ½ and 1
centavo coins were
issued. A full decimal
coinage was introduced
between 1851 and
1853, consisting of
copper ½ and 1
centavo, silver ½ and 1
décimo, 20 and 50
centavos, and 1 peso,
and gold 5 and 10 pesos.
In 1860, gold 1 peso
coins were introduced,
followed by cupro-nickel
½, 1 and 2 centavos
between 1870 and
1871. Copper coins for
these denominations
were reintroduced
between 1878 and
1883, with copper 2½
centavos added in 1886.
A new gold coinage was
introduced in 1895,
reflecting the lower gold
standard, with coins for
2, 5, 10 and 20 pesos. In
1896, the ½ and 1
décimo were replaced
by 5 and 10 centavo
coins.
In 1907, a short-lived,
silver 40 centavo coin
was introduced
following cessation of
production of the 50
centavo coin. In 1919,
the last of the copper
coins (1 and 2 centavos)
were issued. The
following year, cupro-
nickel replaced silver in
the 5, 10 and 20
centavo coins. A final
gold coinage was
introduced in 1926, in
denominations of 20, 50
and 100 pesos. In 1927,
silver 2 and 5 peso coins
were issued. Cupro-
nickel 1 peso coins were
introduced in 1933,
replacing the last of the
silver coins. In 1942,
copper 20 and 50
centavos and 1 peso
coins were introduced.
The last coins of the
first peso were issued
between 1954 and
1959. These were
aluminium 1, 5 and 10
pesos.


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