The peso is the currency
of Chile. 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. It is subdivided into 100 centavos, although no centavo denominated coins remain in circulation. The average exchange rate
of the Chilean Peso to the U.S Dollar was 1 U.S. Dollar
to 510.38 Chilean Pesos in 2010.
Summary information about Chilean peso
- ISO 4217 Code:
- Currency sign:
- 1 pesos, 5 pesos, 10 pesos, 50 pesos, 100 pesos, 500 pesos
- 500 pesos, 1000 pesos, 2000 pesos, 5000 pesos, 10000 pesos, 20000 pesos
- Central bank:
- Central Bank of Chile
The first Chilean peso was introduced in 1817, at a value of 8 Spanish colonial reals. Until 1851, the peso was subdivided into 8 reals, 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 decimals (worth 10 centavos) commenced. Also in 1851, the peso was set equal 5 French francs on the silver standard, 22.5 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 equaled 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). This was reduced in 1926 to 40 pesos = 1 pound (1 peso = 6 pence). From 1925, coins and banknotes were issued denominated in condors, 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 second peso was introduced on September 29, 1975 by decree 1,123; replacing the escudo at a rate of 1 peso = 1000 escudos. It was subdivided into 100 centavos until 1984.
Between 1817 and 1851, silver coins were issued in denominations of ¼, ½, 1 and 2 reals and 1 peso (also denominated 8 reals), 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. 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 centavo coins.
In 1907, a short-lived, silver 40 centavo coin was introduced following cessation of production of the 50 centavo 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 centavo coins. A final gold coinage was introduced in 1926, in denominations of 20, 50 and 100 pesos. In 1927, silver 2 and 5 peso coins were issued. Cuprous-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 aluminum 1, 5 and 10 pesos.
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 peso 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; however, most retailers tend to round the prices to the nearest 10 pesos.
Right after the Military Government in Chile (1973–1990), the obverse designs of the 5 and 10 peso coins were changed. Those 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'etat is marked, and underneath the word Libertarian (Spanish for freedom) is written in capitals. After the return of democracy, a design with the portrait of Bernardo O'Higgins was used. In 2001 a newly redesigned 100 peso coin bearing the image of a Mapuche woman began to circulate.
In February 2010 it was discovered that on the 2008 series of the 50 peso coins the country name "CHILE" had been misspelled as "CHILE". The national mint said that it did not plan to recall the coins. The coins, worth about 9 cents (US) at the time, subsequently became collectors' items.
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 reals. 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 National de Chile, the Banco deal Pobre, the Banco Sud Americano, the Banco deal 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 (lira sterling).
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 centavo 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 "Emission Fiscal". This marked the end of the production of private paper money.
In 1925, the Central Bank of Chile
began issuing notes. The first, in denominations of 5, 10, 50, 100 and 1000 pesos, were overprints on government notes. In 1927, notes marked as "Billet 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 peso notes stopped production in 1943 and 1947, respectively. The remaining denominations continued production until 1959, with a 50,000 peso note added in 1958.
In 1976, banknotes were introduced in denominations of 5, 10, 50 and 100 pesos with the reverses of the 5, 10 and 50 peso notes resembling those of the E 5000, 10,000 and 50,000 notes they replaced. Inflation has since led to the issue of much higher denominations. 500 peso notes were introduced in May 1977, followed by 1000 pesos in June 1978, 5000 pesos in July 1982, 10,000 pesos in June 1989, 2000 pesos in December 1997 and 20,000 pesos in December 1998. The 5, 10, 50, 100 and 500 peso banknotes have been replaced by coins, leaving the 1000, 2000, 5000, 10,000 and 20,000 peso notes in circulation. Redesigned versions of the 2000, 5000, 10000, and 20000 were issued throughout 2009 and 2010. The popular and new 1000 pesos banknote has been planned to be issued by May 11, 2011.
The 2000 pesos note has been issued as a polymer banknote since September 2004, the 5000 pesos note switched to polymer on September 2009, and the 1000 will at some point. As of January 2011, the 1000, 10000, and 20000 pesos notes are the values still issued on cotton paper, but the 1000 will switch to polymer at some point further ahead. All notes have the same 70mm height, while their length varies on 7mm steps according to their value: the shortest is the 1000 pesos note and the longest is the 20,000 pesos. This was the first time that a whole new family of banknotes were put into circulation not because of the effects of inflation. The new notes are substantially more difficult to falsify because of new security measures.
The design of the whole new family of banknotes was assigned to the Swedish company Crane AB, while its production was assigned to the Australian company Note Printing Australia Ltd and Crane AB.
CLP banknotes pictures gallery
|500 Chilean pesos|
|Banknote of 500 Chilean pesos has dimensions 145×70 mm and main colors are timberwolf, splashed white, anti-flash white and gainsboro. Date of first issue of this 500 pesos banknote is May 1977.|
Obverse side of the 500 Chilean pesos is showing Effigy de Pedro de Valdivia
Reverse side of the 500 Chilean pesos is showing Foundation de Santiago
|1000 Chilean pesos|
|Banknote of 1000 Chilean pesos has dimensions 121×70 mm and main colors are dark electric blue, viridian, light gray and snow. Date of first issue of this 500 pesos banknote is June 1978.|
Obverse side of the 1000 Chilean pesos is showing Effigy de Ignacio Carrera Pinto
Reverse side of the 1000 Chilean pesos is showing Monument to the Heroes of the Battle of Conception
|2000 Chilean pesos|
|Banknote of 2000 Chilean pesos has dimensions 128×70× mm and main colors are rose quartz, thistle, platinum and taupe gray. Date of first issue of this 500 pesos banknote is December 1997 .|
Obverse side of the 2000 Chilean pesos is showing Effigy de Manuel Rodriguez
Reverse side of the 2000 Chilean pesos is showing Church of the Dominicans
|5000 Chilean pesos|
|Banknote of 5000 Chilean pesos has dimensions 134×70 mm and main colors are puce, piggy pink, pale chestnut and mauvelous. Date of first issue of this 500 pesos banknote is July 1982.|
Obverse side of the 5000 Chilean pesos is showing Portrait of Gabriela Mistral
Reverse side of the 5000 Chilean pesos is showing La Campana National Park, located on the Cordillera
|10000 Chilean pesos|
|Banknote of 10000 Chilean pesos has dimensions 141×70 mm and main colors are cool grey, anti-flash white, splashed white and rosy brown. Date of first issue of this 500 pesos banknote is June 1989.|
Obverse side of the 10000 Chilean pesos is showing Effigy de Arturo Pratt
Reverse side of the 10000 Chilean pesos is showing Hacienda San Agustin de punual (Ninths), birthplace of Pratt
|20000 Chilean pesos|
|Banknote of 20000 Chilean pesos has dimensions 148×70 mm and main colors are wheat, champagne, dark gray and khaki. Date of first issue of this 500 pesos banknote is December 1998.|
Obverse side of the 20000 Chilean pesos is showing Effigy de Andres Bellow
Reverse side of the 20000 Chilean pesos is showing Central House of the University de Chile
- About Central Bank of Chile:
- Central Bank of Chile
- List of currencies:
- Security and design features of CLP banknotes:
- CLP banknotes
- CLP currency on Wikipedia:
- Chilean peso
- Official Website of Central Bank of Chile:
- Commemorative coins:
- Commemorative Coins