| Chilean peso peso chileno (Spanish) |
|
| ISO 4217 Code | CLP |
|---|---|
| User(s) | Chile |
| Inflation | 7. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established Chile, officially the Republic of Chile ( Spanish:) is a country in South America occupying a long and narrow Coastal strip wedged between the In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time 8% |
| Source | [1] |
| Subunit | |
| 1/100 | centavo |
| Symbol |  (or $, due to its availability in the occidental keyboard). Centavo is a Spanish and Portuguese word derived from the Latin centum, meaning "one hundred" and the suffix -avo A currency sign is a graphic symbol often used as a shorthand for a Currency 's name |
| Coins | |
| Freq. used | 10, 50, 100, 500 pesos |
| Rarely used | 1, 5 pesos |
| Banknotes | 1000, 2000, 5000, 10,000, 20,000 pesos |
| Central bank | Banco Central de Chile |
| Website | www.bcentral.cl |
| Mint | Casa de Moneda |
| Website | www.cmoneda.cl |
The peso is the currency of Chile. A central bank, reserve bank, or monetary authority is the entity responsible for the Monetary policy of a country or of a group of member states The Central Bank of Chile (Banco Central de Chile is the Central bank of Chile. A mint is an industrial facility which manufactures Coins for Currency. A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is Chile, officially the Republic of Chile ( Spanish:) is a country in South America occupying a long and narrow Coastal strip wedged between the The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. The symbol used locally for it is $. The ISO 4217 code for the present peso is CLP. ISO 4217 is the International standard describing three-letter codes (also known as the currency code) to define the names of currencies established It is subdivided into 100 centavos, although no centavo denominated coins remain in circulation.
Contents |
First peso, 1817-1960
The first Chilean peso was introduced in 1817, at a value of 8 Spanish colonial reales. The real was the currency of Spain's colonies in The Americas. Until 1851, the peso was subdivided into 8 reales, with the escudo worth 2 pesos. In 1835, copper coins denominated in centavos were introduced but it was not until 1851 that the real and escudo denominations ceased to be issued and further issues in centavos and décimos (worth 10 centavos) commenced. Also in 1851, the peso was set equal 5 French francs on the silver standard, 22. The franc (represented by the franc sign ₣ or more commonly just F) is a former Currency of France. 5 grams pure silver. However, gold coins were issued to a different standard to that of France, with 1 peso = 1. 37 grams gold (5 francs equalled 1. 45 grams gold). In 1885, a gold standard was adopted, pegging the peso to the British pound at a rate of 13⅓ pesos = 1 pound (1 peso = 1 shilling 6 pence). The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency The shilling is a unit of Currency used in current and former Commonwealth countries and was continued to be used in countries that left the commonwealth A penny (pl pence or pennies) is a Coin or a unit of Currency used in several English -speaking countries This was reduced in 1926 to 40 pesos = 1 pound (1 peso = 6 pence). From 1925, coins and banknotes were issued denominated in cóndores, worth 10 pesos. The gold standard was suspended in 1932 and the peso's value fell further. The escudo replaced the peso on January 1, 1960 at a rate 1 escudo = 1000 pesos. The escudo was the currency of Chile between 1960 and 1975 divided into 100 centésimos. New Year See also New Year The Ancient Romans began their consular year on January 1st since 153 BC Year 1960 ( MCMLX) was a Leap year starting on Friday (link will display full calendar of the Gregorian calendar.
Coins
Between 1817 and 1851, silver coins were issued in denominations of ¼, ½, 1 and 2 reales and 1 peso (also denominated 8 reales), with gold coins for 1, 2, 4 and 8 escudos. In 1835, copper ½ and 1 centavo coins were issued. A full decimal coinage was introduced between 1851 and 1853, consisting of copper ½ and 1 centavo, silver ½ and 1 décimo, 20 and 50 centavos, and 1 peso, and gold 5 and 10 pesos. In 1860, gold 1 peso coins were introduced, followed by cupro-nickel ½, 1 and 2 centavos between 1870 and 1871. Cupronickel or Coppernickel is an Alloy of Copper, Nickel and strengthening impurities such as Iron and Manganese. Copper coins for these denominations were reintroduced between 1878 and 1883, with copper 2½ centavos added in 1886. A new gold coinage was introduced in 1895, reflecting the lower gold standard, with coins for 2, 5, 10 and 20 pesos. In 1896, the ½ and 1 décimo were replaced by 5 and 10 centavos coins.
In 1907, a sort-lived, silver 40 centavos coin was introduced following cessation of production of the 50 centavos coin. In 1919, the last of the copper coins (1 and 2 centavos) were issued. The following year, cupro-nickel replaced silver in the 5, 10 and 20 centavos coins. A final gold coinage was introduced in 1926, in denominations of 20, 50 and 100 pesos. In 1927, silver 2 and 5 pesos coins were issued. Cupro-nickel 1 peso coins were introduced in 1933, replacing the last of the silver coins. In 1942, copper 20 and 50 centavos and 1 peso coins were introduced. The last coins of the first peso were issued between 1954 and 1959. These were aluminium 1, 5 and 10 pesos.
Banknotes
The first Chilean paper money was issued between 1840 and 1844 by the treasury of the Province of Valdivia, in denominations of 4 and 8 reales. In the 1870s, a number of private banks began issuing paper money, including the Banco Agricola, the Banco de la Alianza, the Banco de Concepción, the Banco Consolidaro de Chile, the Banco de A. Edwards y Ca. , the Banco de Escobar, Ossa y Ca. , the Banco Mobiliario, the Banco Nacional de Chile, the Banco del Pobre, the Banco Sud Americano, the Banco del Sur, the Banco de la Union and the Banco de Valparaiso. Others followed in the 1880s and 1890s. Denominations included 1, 2, 5, 10, 20, 50, 100 and 500 pesos. One bank, the Banco de A. Edwards y Ca. , also issued notes denominated in pounds sterling (libra esterlina). The Pound Sterling ( symbol £; ISO code: GBP) subdivided into 100 pence (singular penny) is the Currency
In 1881, the government issued paper money convertible into silver or gold, in denominations of 1, 2, 5, 10, 20, 50, 100 and 1000 pesos. 50 centavos notes were added in 1891 and 500 pesos in 1912. In 1898, provisional issues were made by the government, consisting of private bank notes overprinted with the words "Emision Fiscal". This marked the end of the production of private paper money.
In 1925, the Banco Central de Chile began issuing notes. The Central Bank of Chile (Banco Central de Chile is the Central bank of Chile. The first, in denominations of 5, 10, 50, 100 and 1000 pesos, were overprints on government notes. In 1927, notes marked as "Billete Provisional" were issued in denominations of 5, 10, 50, 100, 500 and 1000 pesos. Regular were introduced between 1931 and 1933, in denominations of 1, 5, 10, 20, 50, 100, 500, 1000, 5000 and 10,000 pesos. The 1 and 20 pesos notes stopped production in 1943 and 1947, respectively. The remaining denominations continued production until 1959, with a 50,000 pesos note added in 1958.
Second peso, 1975-
The current peso was introduced on September 29, 1975 by decree 1,123; replacing the escudo at a rate of 1 peso = 1000 escudos. Events 522 BC - Darius I of Persia kills the Magian usurper Gaumâta securing his hold as king of the Persian Empire. Year 1975 ( MCMLXXV) was a Common year starting on Wednesday (link will display full calendar of the Gregorian calendar. A decree is an order made by a Head of state or government and having the force of Law. The escudo was the currency of Chile between 1960 and 1975 divided into 100 centésimos. It was subdivided into 100 centavos until 1984. Centavo is a Spanish and Portuguese word derived from the Latin centum, meaning "one hundred" and the suffix -avo Year 1984 ( MCMLXXXIV) was a Leap year starting on Sunday (link displays the 1984 Gregorian calendar)
Coins
In 1975, coins were introduced in denominations of 1, 5, 10 and 50 centavos and 1 peso. The 1, 5 and 10 centavo coins were very similar to the 10, 50 and 100 escudo coins they replaced. Since 1983, inflation has left the centavo coins obsolete. 5 and 10 pesos coins were introduced in 1976, followed by 50 and 100 pesos in 1981 and 500 pesos in 2000. Coins currently in circulation are in denominations of 1, 5, 10, 50, 100 and 500 pesos.
Following the military dictatorship in Chile (1973-1990), the obverse designs of the 5 and 10 pesos coins were changed. Government Junta of Chile ( September 11, 1973 - March 11, 1990) (Junta Militar de Gobierno was the political During the dictatorship, these coins bore the image of a winged female figure wearing a classical robe. She was portrayed as if she had just broken a chain tying her two hands together, since from both of her wrists a piece of chain can be seen hanging. To her side, in small Roman numerals, the date of the coup d'état is marked, and underneath the word Libertad (Spanish for freedom) is written in capitals. Events 9 - The Battle of the Teutoburg Forest ends 506 - The Bishops of Visigothic Gaul The Chilean coup d'état of 1973 is a landmark in the History of Chile and the Russo-American Cold War. After the return of democracy, a design with the portrait of Bernardo O'Higgins was used. Bernardo O'Higgins Riquelme ( August 20, 1778 &ndash October 24, 1842) South American independence leader was one of the commanders In 2001 a newly redesigned 100 pesos coin bearing the image of a Mapuche woman began to circulate. The Mapuche are the indigenous inhabitants of Central and Southern Chile and Southern Argentina.
Banknotes
In 1975, banknotes were introduced in denominations of 5, 10 and 50 pesos with the reverses of the 5 and 10 peso notes resembling those of the 5000 and 10,000 escudo notes they replaced. Inflation has since lead to the issue of much higher denominations. 100 pesos notes were introduced in 1976, followed by 500 pesos in May 1977, 1000 pesos in June 1978, 5000 pesos in July 1981, 10,000 pesos in June 1989, 2000 pesos in December 1997 and 20,000 pesos in December 1998. The 5, 10, 50 and 100 pesos banknotes have been replaced by coins, leaving the 500, 1000, 2000, 5000, 10,000 and 20,000 pesos notes in circulation. All banknotes are printed on paper with the exception of the 2000 peso note which has been issued as a polymer banknote since September 2004. Polymer banknotes were developed by the Reserve Bank of Australia (RBA Commonwealth Scientific and Industrial Research Organisation (CSIRO and The University All banknotes measure 145 x 70 mm. The Millimetre ( American spelling: millimeter, symbol mm) is a unit of Length in the Metric system, equal to
In popular culture
Colloquial Chilean Spanish has informal names for some banknotes and coins. Chilean Spanish ( Spanish: Español chileno or Castellano chileno) is the variety of Spanish spoken in most of Chile These include luka or luca for the thousand-peso banknote, quina for the five-hundred-peso coin (quinientos is Spanish for "five hundred"), and gamba for the hundred-peso coin.
Also, some banknotes are called informally by the name of the notable citizen printed on it. For example, the five thousand-peso banknote is sometimes called a gabriela (for Gabriela Mistral), the ten thousand-peso banknote arturo or arturito (for Arturo Prat, arturito meaning "little arturo"); the one thousand-peso note is frequently referred as luca, meaning a thousand, therefore, the two thousand-peso note can be referred as two lucas note, five thousand-peso note as five lucas note, ten thousand as ten lucas note, 1 million pesos as a guatón or palo, and so on. Gabriela Mistral ( April 7, 1889 — January 10, 1957) was the Pseudonym of Lucila de María del Perpetuo Socorro Godoy Alcayaga Agustín Arturo Prat Chacón ( April 3, 1848, near Ninhue - May 21, 1879, Iquique, Peru) was a Chilean
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See also
References
- Krause, Chester L. Chile has a dynamic market-oriented economy characterized by a high level of foreign trade and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed. The Standard Catalog of World Coins is a series of numismatic Catalogs commonly known as the Krause catalogs in the Numismatic hobby , Krause Publications. ISBN 0-87341-150-1.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues, Colin R. The Standard Catalog of World Paper Money is a very well-known catalogue of Banknotes that is published by Krause Publications in three volumes Bruce II and Neil Shafer (editors), 7th ed. , Krause Publications. ISBN 0-87341-207-9.
- Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues, Colin R. The Standard Catalog of World Paper Money is a very well-known catalogue of Banknotes that is published by Krause Publications in three volumes Bruce II and Neil Shafer (editors), 6th ed. , Krause Publications. ISBN 0-87341-149-8.
External links
- Don's World Coin Gallery - Chile
- Ron Wise's World Paper Money - Chile Mirror site
- The Global History of Currencies - Chile
- Global Financial Data data series - Chile Peso
- Global Financial Data currency histories table (
Microsoft Excel format)
| Preceded by: Spanish colonial real Ratio: 8 reales = 1 peso |
Currency of Chile 1817 – December 31, 1959 |
Succeeded by: Chilean escudo Ratio: 1 escudo = 1000 pesos |
| Preceded by: Chilean escudo Ratio: 1 peso = 1000 escudos |
Currency of Chile 1975 – |
Succeeded by: Current |
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