The Chilean peso has been Chile's official currency since 1975. Its ISO code is CLP, and its symbol is ($).
Banco Central de Chile, the central bank of Chile, issues pesos with the currency divided into 100 cents.
The peso was introduced in 1975 as the third currency after various pesos. The first of these was adopted in 1817 to replace the Spanish colonial origin at the rate of 1 peso per 8 riyals.
In 1851, the peso was pegged to the French franc at 5 francs per peso. In the same year, the Real and Escudo (another subdivision of the peso) were eliminated and the peso was divided into 100 centavos.
On the other side, gold coins were issued at different prices. A gold coin weighed 1.35 grams of gold, while a French franc weighed 1.45 grams of gold.
Chile adopted the gold standard, and the Chilean peso was equated to the British pound at the rate of 13.33 pesos per 1 British pound in 1885.
In 1914, the opening of the Panama Canal and the economic downturn in Chile as a result of World War I, and the depreciation of the currency, forced the government to introduce fiscal reforms in 1926.
Banco Central de Chile was established, and the Chilean peso was devalued to 40 pesos per 1 British pound.
In 1932 the gold standard was abandoned and the Chilean peso depreciated further. During the 1950's, inflation hit the country and the peso fell further until, in 1960, the peso was replaced by Escudo at the rate of 1,000 pesos per 1 Escudo.
Escudo's life spanned from 1960 to 1975, when the new peso replaced it at the rate of 1,000 new pesos per 1,000 Escudos.
The new peso was allowed to float with the basket of currencies according to the "crawling band system" until 1982 when the peso was pegged to the dollar. In 1984, the crawling band system was restored.
In 1990, Chile's central bank was granted full operational autonomy, and in 1999, the Chilean peso was allowed to float freely against other currencies.
Since the introduction of floatability, the Chilean peso has remained relatively stable compared to its key contemporaries, although the Central Bank of Chile has been forced to occasionally intervene in the market to prevent excessive peso fluctuations.

A

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B

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C

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E

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