How much is the dollar in Chile? Here we tell you what the exchange rate is for this Monday, April 4, 2022, amid the solid figures for job growth in the United States in March that reaffirmed market expectations that the Federal Reserve will increase the rate of hikes of interest rates in an effort to mitigate escalating inflation.
The dollar in Chile ended the day on Friday, April 1, at 782.8 Chilean pesos, which meant a drop of 0.40% compared to the session on Thursday, according to data from Bloomberg.
Meanwhile, the global market remains cautious, waiting for new developments regarding the conflict between Russia and Ukraine.
Until now, the West has placed heavy restrictions on Russia to shut down its economy and lock it out of the global financial system, making it an “uninvestable” country and encouraging companies to suspend sales, cut relationships and ditch investments.
The Chilean peso is the official currency of Chile, whose origins with the Central Bank of Chile as issuer date back to 1925.
Currently, coins of 10, 50, 100 and 500 Chilean pesos are in circulation. Those of 1 and 5 pesos have ceased to be issued since 2017.
To date, the bills that circulate in Chile are those of 1,000, 2,000, 5,000, 10,000 and 20,000 pesos.
The 1,000, 2,000 and 5,000 peso bills are made of a material known as polymer, which is soft and smooth to the touch. For the denominations of 10,000 and 20,000 pesos, cotton paper is used, which gives them a certain rough texture.
This year, Chile will have great political and economic challenges that will face the leftist Gabriel Boric, who came to power after winning the second presidential round on December 19, 2021, with 55.87% of the preferences over 44.13%. of his rival José Antonio Kast.
The Chilean economy grew by 6.8% year-on-year in February supported by a good performance of services, amid the recovery from the impact caused by the COVID-19 pandemic, the Central Bank reported on Friday.
The Monthly Indicator of Economic Activity (Imacec), which represents about 90% of the Gross Domestic Product (GDP) of the South American country, fell 0.7% in seasonally adjusted terms compared to January.
The year-on-year progresswas explained by the increase in service activities. Commerce also contributed positively to the result of the month, while the production of goods fell, mainly influenced by mining”, said the agency.
The market expected an 8.2% rise in Imacec in the second month.
According to experts, the local economy has recovered faster than expected, which has also led to strong pressure on consumer prices, which the Central Bank has attacked with a sharp rise in the benchmark interest rate.
On the political side, the government of Gabriel Boric will oversee the final stages of drafting a new constitution to replace the dictatorship-era Magna Carta that continues to define the nation.