How much is the dollar in Chile? Here we tell you what the exchange rate is for this Monday, May 2, in the midst of the investors’ gaze that is set on the Fed meeting for this week, where it could apply more aggressive rate hikes and thus contain the rise inflation in the United States.
The dollar in Chile ended the day on Friday, April 29, at 851.62 Chilean pesos, which meant a decline of 0.66% compared to the session on Thursday, according to data from Bloomberg.
Also globally, the International Monetary Fund (IMF) cut its forecast for world economic growth by almost a percentage point due to Russia’s war in Ukraine, warning that inflation is now a “clear and obvious danger” for many countries. .
The war is expected to slow growth and further increase inflation, the IMF said in its World Economic Outlook, while warning that its forecast was marked by “unusually high uncertainty”.
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.
Inflation in Chile soared in March. The National Institute of Statistics (INE) reported that the Consumer Price Index (CPI) recorded a monthly rise of 1.9% -well above market forecasts-, registering its highest monthly rise since October 1993 (2, 6%), in almost 30 years.
With this, the accumulated rise in the CPI so far this year reached 3.4%, while the annual rise reached the powerful figure of 9.4% (its highest level since October 2008), very close to reaching 10% that the Central Bank predicted would be reached in the middle of this year.
Among the divisions with increases in their prices, food and non-alcoholic beverages stood out (3.9%), with 0.800 percentage points (pp.), and education (6.6%), with 0.419 percentage points.
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.