The legal currency of Chile is the Chilean peso. Currently there are coins of 1, 5, 10, 50, 100 and 500 pesos and banknotes of 500, 1,000, 2,000, 5,000, 10,000 and 20,000.
The peso was established as the monetary unit of Chile in 1925, with a content of 0.183057 grams of fine gold and divided into one hundred cents. Ten pesos made a condor. Inflation made fractional coins gradually dropped into disuse and in 1955 a legal provision stipulated that payments would be only paid in whole numbers.
Following the enactment of a new law in 1959, in the 1st January 1960 the peso was replaced by the escudo and the organic law of 30th March 1960 provided in Article 51 that the banknotes should express their value in escudos, hundredths and half hundredth, as appropriate, and bear the national emblem.
In 1973 a new statutory provision, Legislative Decree 231 of 31st December 1973, removed the fractions of the escudo in accounting and in the documents issued in local currency and in 1975 the peso would be re-established as a monetary unit. According to a decree issued in 1975, from 29th September of that year the currency of Chile was renamed peso again, and on that occasion the change amounted to a thousand escudos.
At present, the Central Bank of Chile has the exclusive right to issue notes and coins and may outsource, within or outside the country, the printing of banknotes and coinage. Features of banknotes and their security measures are established by the Board of the Central Bank of Chile.
Source: Central Bank of Chile
Currently, coins of Chilean peso are: 1, 5, 10, 50, 100 and 500 Chilean pesos.
Regarding banknotes, denominations are: 500, 1,000, 2,000, 5,000, 10,000 and 20,000 Chilean pesos.
Date of creation:
Central Bank of Chile
|Global Exchange||Your high-street bank|
|Variety of currencies||We have 24 currencies. We are specialists.||Only major currencies. Travel money is just a secondary business for banks.|
|Availability of currencies||Immediate availability of currencies in our branches. Click and collect or walk in to our stores.||If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can have the money on your hands.|
|Expenses||Only the exchange rate, without commissions, and if you book online you guarantee the best price.||The bank sets its own margin plus a commission.|
|Different denominations available||At Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs.||No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes.|
|Delivery options||Order online to benefit from a price reduction and collect at the branch of your choice.||You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it.|