April 13, 2024

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Chile: Euro closing price today, March 29 from EUR to CLP

Chile: Euro closing price today, March 29 from EUR to CLP

The Chilean exchange market was one of those that suffered from the effects of the Covid-19 pandemic. (information)

he euro Quoted from the conclusion 1,057.11 Chilean pesos on averageSo it represents a 0% change compared to 1,057.07 pesos in the previous session.

And in the last seven days euro Decrease accumulates in 0.45% Although, on the contrary, it still maintains an increase in last year 23.53%.

As for the changes that occurred on this day compared to the previous days, with this value he broke the line that he had in the previous two days. Last week, the volatility rate reached 2.38%, which is clearly lower than the annual volatility figure (11.98%), so its price is showing less changes than usual recently.

after A year without economic growthChile could witness a recovery by 2024 and 2025, according to OECD estimates (Organization for Economic Cooperation and Development).

The outlook is expected to improve due to higher real wages Decrease in inflation And lower interest rates, allowing Chileans to increase their consumption.

It indicates that production will rise by 1.8% and 2.5% in 2025. The outlook is positive due to improved business confidence, as well as demand for metals, which will support exports. It is estimated that Economic inflation It will reach the central bank's target in the second half of 2024, and from then on it will decline at a slower pace.

he Chilean peso It has been the legal currency of Chile since 1975, resumes the use of the peso sign ($) and is regulated by the Central Bank of Chile, which controls the amount of money in circulation.

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The Chilean currency was created in 1817 after the country's independence, but it was not until 1851 that the decimal system was established in the Chilean peso, which now consists of 100 centavos. Over time, the currency has changed, but Currently it is charged in full pesos.

So now you can find Coins are in denominations of 5, 10, 50, 100 and 500 pesosThe latter was the first bimetallic coin to be 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 1- and 5-peso coins.

Likewise, in October 2018, the Central Bank of Chile announced that it would begin a process Withdrawal from trading of 100 peso coinsThey were manufactured between 1981 and 2000, in order to reduce their presence with current coins, although they are still valid.

Regarding economic matters, Chile It had a strong financial response In 2021, which allowed it to grow by up to 11.7%, making it 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 financial support.

despite this, The recovery in the labor market has been slower Inflation also affected Chile driven by strong demand pressures, increases in raw material prices, supply disruptions, and the depreciation of the peso, ultimately resulting in the highest public debt in three decades (37%).