Dollar: opening rate today March 3 in Chile

He American dollar is quoted at the start of the day at 807.05 Chilean pesos on averagewhich implied a variation of 0.66% compared to the 812.38 Chilean pesos on average the day before.

Considering last week, the American dollar recorded an increase of 1.1%; However, year-on-year, it still maintains a decline of 4.36%.

Regarding the changes of this day compared to the previous days, it returns the data of the previous session in which it saw a rise of 1.98%, proving unable to establish a clear trend in the latter time. Volatility referring to last week shows a significantly higher performance than the volatility reflected in last year’s data, indicating that it shows larger changes than the general trend of the value.

He chilean peso It has been the legal currency of Chile since 1975, it uses the peso sign ($) and is regulated by the Central Bank of Chile, which controls the amount of currency 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 cents. Over time, the currency has changed, but it is currently counted in whole pesos.

To date, you can find coins of 5, 10, 50, 100 and 500 pesos, the 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 to stop issuing the 1 and 5 peso coins.

Similarly, in October 2018, the Central Bank of Chile announced that it would launch the Withdrawal from circulation of 100 peso coinsmanufactured between 1981 and 2000, in order to reduce their coexistence with current currencies, although they are still valid.

In economic matters, Chile had a strong tax response in 2021, which allowed it to grow 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, labor market recovery has been slower and inflation also hit Chile, fueled by strong demand pressures, commodity price hikes, supply disruptions and the depreciation of the peso, which ultimately led to its highest public debt in three decades (37%).

By 2022, gross domestic product (GDP) growth has slowed and this trend could continue according to the latest forecasts from the Economic Commission for Latin America and the Caribbean (Cepal), which stated that by 2023 that this South American nation will shrink by 0.9%.