How much is the dollar in Chile? Here we tell you what the exchange rate is for this Friday, June 24, amid persistent fears that sustained increases in interest rates to deal with inflation could complicate the recovery of the world economy or cause a recession. .
The dollar in Chile ended the day on Thursday, June 23, at 904.43 Chilean pesos, which meant a decline of 1.80% compared to Wednesday’s session, according to data from Bloomberg.
Regionally, most Latin American currencies and stocks were trading at a loss on Thursday, amid market and investor concerns about a possible further slowdown in the global economy that could slip into recession.
“The continuous rises in interest rates to curb inflation have put an additional obstacle to the recovery of the economy and there is already open talk about the possibility of a global recession, which increases the nervousness of the markets,” said a operator.
According to the Reuters agency, the day before, the president of the United States Federal Reserve (Fed), Jerome Powell, indicated that the entity is fully committed to controlling prices, even if doing so risks facing an economic recession.
“We are not trying to cause, and I don’t think we need to cause, a recession,” Powell said at a hearing before the Senate Banking Committee, although he acknowledged that a recession was “certainly a possibility” and the events of the last few months in the world have made it more difficult to reduce inflation without causing a drop in activity.
“It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit everyone,” Powell said. The central bank will be looking in the coming months for “convincing evidence” of a slowdown in price pressures before easing interest rate hikes started three months ago.
What is the Chilean peso?
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.
What are the banknotes that circulate in Chile?
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.