Currency in Chile
Foreign exchange guide to Chile and the Chilean peso
What's in this Chile currency guide?
What currency is used in Chile?
The official currency of Chile (country code: CL) is the Chilean peso, with symbol C$ and currency code CLP.
Things to know about the Chilean peso
The Chilean peso (CLP) is the official currency of Chile. Here are a few things you might want to know about the CLP:
The CLP has been the official currency of Chile since 1975, when it replaced the escudo.
The CLP is not pegged to any other currency, and its value is determined by supply and demand in the foreign exchange market.
The Central Bank of Chile is responsible for issuing and regulating the CLP.
The CLP is a widely used and traded currency in South America, and it can be easily exchanged for other currencies in most parts of the world.
Inflation has been a significant issue in Chile in the past, but the CLP has remained relatively stable in recent years due to the Central Bank's use of monetary policy to control inflation.
The CLP is divided into 100 centavos. Coins are available in denominations of 1, 5, 10, 50, and 100 pesos, as well as 5 and 10 centavos. Banknotes are available in denominations of 1000, 2000, 5000, 10000, and 20000 pesos.
Travel money for Chile
Save money and time by Ordering your Chilean peso online from Travelex, you get better rates and can pick up the CLP cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Chilean peso otherwise you may get much worst exchange rates.
Travel Ideas and Money Tips for Chile
Chile is a country located in South America, known for its diverse landscapes, rich culture, and strong economy. It stretches from the Atacama Desert in the north, to the glaciers and fjords of Patagonia in the south. The capital city is Santiago, and it is the cultural, political, and economic center of the country.
For travelers, Chile offers a wide range of experiences, from adventure tourism in the Andes and Patagonia, to relaxation and culture in the wine regions of the Central Valley. Visitors can explore the Atacama Desert, one of the driest places on earth, with its unique landscapes and stargazing opportunities. The Lake District is also a popular destination, it's a region of forests, lakes, and volcanoes. In the south, visitors can hike in Torres del Paine National Park or take a boat trip to see the glaciers and fjords of the Patagonian Ice Field.
Overall, Chile is an excellent destination for both expats and travelers, offering a diverse range of experiences, a high quality of life, and a stable environment. With a rich history and culture, Chile has a lot to offer to those who take the time to explore it.
USD/CLP Market Data
The below interactive chart displays the USD/CLP trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
Frequently Asked Questions
What currency should I use in Chile?
The domestic currency in Chile is the Chilean peso.
What is the Chilean peso currency code and symbol?
The three letter currency code for the Chilean peso is CLP — symbol is C$.
Which countries use the Chilean peso?
It is the domestic currency in Chile.
Is the Chilean peso a closed currency?
No, the Chilean peso is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and CLP?
Converted at USD/CLP interbank rate, compare Send Money and Currency Exchange exchange rates.
Send Money to Chile - Best Rates
To get a good (and fair) exchange rate when sending money to Chile you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Chile
When sending money to Chile it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Chilean peso amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted CLP amount will be transfered to the recipient account you specify in Chile.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Chilean peso deposited into the recipient bank account and less margins and fees kept by the banks!
Expat Money & Business Guide to Chile
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Chile.
For expats, Chile offers a high quality of life and a stable political and economic environment. The country has a strong economy and a relatively low unemployment rate, and it's considered one of the most developed and prosperous countries in Latin America. The healthcare system is also considered good, and expats have access to good schools and universities. However, the cost of living can be relatively high in some areas, particularly in Santiago and Valparaíso, and housing costs can also be high.
The official language is Spanish, and it's important for expats to have a basic understanding of Spanish to be able to navigate the country and integrate into the society. Chile is a relatively conservative society and can be quite formal at times, so it's also good to know about the local customs and etiquette.
Managing your finances in Chile
Here we list some key points for expats and businesses to consider when managing financial dealings in Chile:
Understand Chilean peso currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the CLP exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Chilean peso bank account: A local CLP bank account can make it easier for you to manage your finances and pay bills while you are in Chile. It may also be more convenient to use a local CLP bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Chile. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Chile. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Chile, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
