He euro was negotiated at closing Average 1,068.05 Chilean pesoswhich marked a change of 0.14% compared to the previous day’s price, when it was 1,069.59 pesos, it said Dow Jones.
Taking into account last week, the euro marks a decrease of 0.84%; However, there was still an increase last year 7.73%.
A comparison of these data with those of the previous days showed that two sessions ended positively. This week’s volatility was significantly lower than last year, suggesting that the price is experiencing less fluctuation than expected these days.
This is expected chili experience a Economic recovery in 2025with a growth of GDP According to the Chilean Central Bank, the real value is expected to be 2.2%. This recovery follows a period of low growth in 2023 and 2024, impacted by the tightening of monetary and fiscal policies to contain inflation during the COVID-19 pandemic.
Although it is expected that the inflation The decline in fuel and food prices, which remain above their long-term trend, suggests that cuts in the benchmark interest rate for this period should be cautious.
On the other hand, although the short-term outlook is positive, Chile could face long-term complications. Due to low public and private capital accumulation and limited productivity growth, future growth prospects are limited.
Despite the enthusiasm for nearshoring Foreign direct investment (FDI) remains below levels of more than a decade ago. The report notes that to achieve long-term success, Chile must address structural challenges such as capital costs, workforce training, energy and infrastructure policies, social instability and high corporate tax rates.
The inequality is another ongoing challenge in the country, although it has declined slightly, it remains high compared to standards World Bank. The country has considered introducing a wealth tax several times, but this has not yet been implemented. Therefore, some aspects for the development of the economy will still be open.
The Chilean peso has been the legal tender of Chile since 1975, it again uses the peso symbol ($) and is regulated by the Central Bank of Chile, which controls the amount of money created.
The Chilean currency was introduced in 1817 after the country’s independence, but it was not until 1851 that the decimal system was introduced in the Chilean peso, which today consists of 100 centavos. Over time the currency has changed, but currently it is counted in whole pesos.
To this day there are coins of 5, 10, 50, 100 and 500 pesos, the latter being the first bimetallic coin produced in the country. In 2009, an attempt was made to produce 20 and 200 peso coins, but the project was rejected by Congress. Meanwhile, in 2017, it was decided to stop issuing 1 and 5 peso coins.
Likewise, the Central Bank of Chile announced in October 2018 that it would begin withdrawing from circulation the 100 peso coins created between 1981 and 2000 in order to limit their coexistence with current currencies, although they are still valid.
Economically, Chile recorded a strong fiscal response in 2021, allowing growth of up to 11.7%, representing one of the fastest recoveries in the world after the coronavirus pandemic. This situation is due to consumption driven by the withdrawal of pension funds and direct fiscal support.
However, the recovery in the labor market was slower and Chile was also affected by inflation, fueled by strong demand pressures, rising commodity prices, supply disruptions and the devaluation of the peso, which ultimately led to the highest public debt in three decades (37%).
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