In the last session the euro was quoted at closing at 1,023.31 Chilean pesos on averagewhich implied a change of 0.71% compared to the figure of the previous day, when it was quoted at 1,016.14 pesos.
In the last seven days, the euro accumulates a promotion of 1.63%% and in the last year it still maintains an increase in 11.65%.
Comparing this data with that of previous days, it chained two consecutive dates in green. In the last week the volatility was 9.9%, which is a figure lower than the annual volatility figure (11.68%), so its price has been showing less variations than normal lately.
After a year of economic stagnationChile could experience a rebound by 2024 and 2025, according to forecasts from the Organization for Economic Cooperation and Development (OECD).
It is expected that the outlook will improve due to the rise in real wages due to the decline in inflation and the fall in interest rates, allowing Chileans to increase their consumption.
It indicates that production will increase by 1.8% and 2.5% in 2025. The outlook is positive since business confidence has improved, as well as the demand for minerals, which will sustain exports. He estimates that the inflation It will reach the central bank’s goal in the second half of 2024, from then on it will decline at a slower pace.
He Chilean peso It has been the legal currency of Chile since 1975, it resumes the use of the peso sign ($) and is regulated by the Central Bank of Chile, which controls the amount of money in circulation.
The Chilean currency was established in 1817 after the country’s independence, but it was not until 1851 that the decimal system was established in the Chilean peso, which is now made up of 100 centavos. As time has passed, the currency has changed, but Currently it is accounted for in whole pesos.
To date you can find coins of 5, 10, 50, 100 and 500 pesosthe latter was the first bimetallic coin produced in the country. In 2009, an attempt was made to create 20 and 200 peso coins, but the project was rejected by Congress. Meanwhile, in 2017, it was approved that the 1 and 5 peso coins would stop being issued.
Likewise, in October 2018 the Chilean Central Bank announced that it would begin the Withdrawal from circulation of 100 peso coinsmanufactured between 1981 and 2000, in order to reduce their coexistence with current coins, although they are still valid.
Regarding economic matters, Chile had a strong fiscal response in 2021, which allowed it to grow by up to 11.7%, being one of the fastest recoveries in the world after the coronavirus pandemic. This situation is explained by consumption driven by the withdrawal of pension funds and direct tax support.
Despite this, recovery in the labor market has been slower and inflation has also affected Chile fueled by strong pressures on demand, increases in raw material prices, interruptions in supplies and the depreciation of the peso, which ultimately led to having the highest public debt in three decades ( 37%).
