Chilean peso

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peso
Country: ChileChile Chile
Subdivision: (hist .: 100 Centavos)
ISO 4217 code : CLP
Abbreviation: (chil.) $
Exchange rate :
(29 Mar 2020)

1  EUR  = 924.58 CLP
100 CLP = 0.10816 EUR

1  CHF  = 859.2 CLP
100 CLP = 0.11639 CHF

The Chilean Peso is the currency of Chile . The historical peso was divided into 100 centavos , but the 1 centavo coin has not been used since 1976, shortly after the currency was reintroduced.

Chilean peso from 1886, value side
Chilean peso from 1886, eagle side

The name of the currency in Chile has changed several times in the last century. At times you paid with the cóndor (= 10 pesos), then again with the peso , then with the escudo and finally after the currency exchange in 1974 you ended up with the peso again.

In addition to the peso, the currency of account Unidad de Fomento (UF) has also existed in Chile since 1967 , whose exchange rate to the peso is permanently adjusted to the IPC inflation index . As a result, the value ( purchasing power ) of a UF remains constant over time, while it usually appreciates or depreciates nominally against the peso.

history

Time before 1835

From 1743 Chile received the right to mint its own coins. The first gold and silver coins were introduced in 1749. For gold coins, 1 escudo was equivalent to 16 real . After independence, the Chileans initially adopted the escudo / real currency. Spanish coins continued to be minted on the island of Chiloé until 1826.

Period 1835-1960

The decimal system was introduced in 1835 (1 Peso = 10 Décimos, 1 Décimo = 10 Centavos). In 1851 the currency was completely converted from the weight of the coins to the decimal system.

From 1859 to 1860, the city of Copiapó minted its own pesos and centavos because it wanted to split off from the central government. During the Spanish-South American War in 1865, Copiapó pesos and centavos were minted again.

The first banknotes were issued in 1880 .

In 1925 the Chilean central bank Banco Central de Chile was founded.

The exchange rate against the mark determined in the context of the gold standard was 1.53 M in 1912 and 0.53 RM in 1932.

Period 1960–1975

See main article: Chilean escudo .

In 1955, when inflation grew stronger, the Centavos were withdrawn from circulation. Between 1960 and 1975, the government under President Jorge Alessandri replaced the peso with the escudo (Eº). 10 pesos equaled 1 centésimo and 100 centésimos was 1 escudo (Eº 1 = $ 1000). 1 Escudo is divided into 100 Centésimos and 1 Centésimo into 10 Milesimos.

Time from 1975

In October 1975 Chile decided to introduce the peso again. One peso was equivalent to 1000 escudos and 1 centavo was equivalent to 10 escudos. The 1 centavo coins from 1975 were discontinued after a year due to galloping inflation, as the metal value far exceeded the official value.

Today's circulating money

11,111 Chilean pesos with old series banknotes

Coins

  • 1 Peso with a picture of Bernardo O'Higgins , aluminum, octagonal, no longer in production since November 2, 2017 (§20.956)
  • 5 Pesos with a picture of Bernardo O'Higgins , copper-aluminum-nickel, octagonal, no longer in production since November 2, 2017 (§20.956)
  • 10 pesos with a picture of Bernardo O'Higgins , copper-aluminum-nickel, round
  • 10 pesos with angel of freedom, copper-aluminum-nickel, round
  • 50 Pesos with a picture of Bernardo O'Higgins , copper-aluminum-nickel, decagonal
  • 100 Pesos with national coat of arms (back), copper-aluminum-nickel, round
  • 100 Pesos with national coat of arms (value side) and Mapuche image (back side), bimetal, round
  • 500 pesos with Cardinal Raúl Silva Henríquez , bimetal, round

Banknotes

The then president of the Chilean central bank José de Gregorio at the presentation of the new 5000 peso banknote, the first of the current series

Between 2009 and 2011, a new series of banknotes with a new design was introduced. However, the people portrayed on the front of the notes did not change. On the back of the new series there are images of Chilean national parks and natural monuments.

Trivia

Due to the very similar appearance of the Chilean 100 and 500 peso coins, they may be confused with euro coins .

The newer 100 peso coin is, like the 1 euro coin, a brass coin with a copper ring and has almost the same thickness, the same corrugation on the edge and only a slightly different diameter (23.25 mm compared to 23.50 mm). Their equivalent value is around 0.15 euros. The weight of the Chilean coin is 7.58 g, that of the euro coin is 7.50 g. The new Chilean 100 peso coins have been in circulation since 2001, even before the euro coins came into circulation in 2002.

The Chilean 500 peso coin is very similar in design and size to the 2 euro coin, but has a smaller thickness and is 2 grams lighter than the euro coin.

In Chile, the word Luca is used very often for units of 1000 Peso. The invoice in Lucas simplifies the handling of large amounts, but is usually only used for amounts between 1000 and one million pesos. In the case of higher amounts, millions (colloquially also Palos ) are spoken of directly . There are also the terms Quina and Gamba for $ 500 and $ 100, respectively.

literature

  • Fajardo G., Miguel A .: Billetes de Chile. Chilean Paper Money 1879-1999. Ediciones Coleccionart, Santiago de Chile, 1999 (120 pp., Color illus.).
  • Galetovic M .; José and Benavides T., Hector R .: Billetes de Chile. Catálogo Ilustrado (Title on Cover: El Billete Chileno Catálogo). Santiago de Chile, 1973.
  • Guzmán Schiappacasse, Fernando and Martínez Silva, Juan Manuel: Catálogo de Monedas Chilenas. Colecciones Numismáticas del Banco Central de Chile y Museo Histórico Nacional. Santiago de Chile, 1991 (65 pp., Illus.).
  • Jara Moreno, Carlos: El Peso de Chiloe. Estudio de la Moneda Obsidional mas Importante de la Numismática Chilena. Santiago de Chile, 2000 (no pagination, illus.).
  • Jara Moreno, Carlos: Historia de la Casa de Moneda de Coquimbo. Lom Ediciones, Santiago de Chile, 2001 (131 pp., Illus.).
  • Jara Moreno, Carlos: Las emisiones provincials de Valdivia entre 1822 y 1844. Santiago de Chile, 2002.
  • Medina, José Toribio: Las Monedas Chilenas. Impreso y grabado en casa del autor, Santiago de Chile, 1902.
  • Medina, José Toribio: Las Monedas Obsidionales de Chile. Imprenta Elzeviriana, Santiago de Chile, 1919.
  • Medina, José Toribio: Manual Ilustrado de Numismática Chilena. La Colonia. Imprenta Elzeviriana, Santiago de Chile, 1919 (19 pp. And 10 plates).

Web links

Commons : Chilean Peso  - collection of images, videos and audio files

Individual evidence

  1. ↑ see: List of exchange rates (gold standard)
  2. ↑ Otto, Carl; The house secretary; Berlin 1913, p. 485, 3rd cover page
  3. ↑ From AZ: Das Konversationslexikon; Berlin 1932, Col. 417ff