How much is the dollar in Chile? Here we tell you what the exchange rate is for this Monday, May 16, in the midst of the presentation of the draft of a new Constitution that, according to the credit risk rating agency Fitch Ratings, has increased economic and political uncertainty.
The dollar in Chile ended the day on Friday, May 13, at 860.63 Chilean pesos, which meant a drop of 0.22% compared to the session on Thursday, according to data from Bloomberg.
At a global level, the year-on-year rate of inflation in the United States moderated slightly in April to 8.3% -two tenths below that of March-, reported the Bureau of Labor Statistics. The monthly rise in consumer prices was 0.3%.
In addition, the United States Federal Reserve raised its benchmark interest rates by half a percentage point, the first increase of this magnitude since 2000, to try to control record inflation, and signaled that further hikes “will be justified” in the future.
The rates were in a range of 0.75% to 1%, according to the official statement issued at the end of a two-day meeting of the Federal Reserve Monetary Policy Committee (FOMC).
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 continues to rise and in April marked an increase of 1.4% driven by a rise in food, non-alcoholic beverages and recreation and culture, reaching a historic 10.5% in the last 12 months, according to the Institute National Statistics (INE).
The Consumer Price Index (CPI) thus increased by 4.8% so far this year, while the year-on-year figure, which exceeded what was expected by the markets, is the first in two digits since 1994, according to specialized local media.
The divisions that registered the greatest increase in their prices compared to the previous month were food and non-alcoholic beverages, with strong pressure on bread and cereals (3%) and oils and fats (16.4%), registering increases in 56 products of a total of 76 that make up the division.
For its part, the Chilean economy expanded 7.2% in March over the same month in 2021, the Central Bank indicated, a result that exceeded expectations amid rising prices and thanks to the boost from the services sector.
The Monthly Index of Economic Activity (Imacec), which prefigures the GDP figures, showed that the result “was mainly explained by the increase in service activities. Meanwhile, the production of goods fell, mainly affected by mining and other goods.