Government resolution on the issuance of Chilean coins in the Spanish-colonial standard; effective immediately. - xx.xx.1818 (date unknown): Government resolution on the adjustment of the gold-to-silver ratio to 8 Escudos (AU) = 17¼ Pesos (AG) (was 16 Pesos).
23.08.1832
Law on the prices paid by the government mint for gold an silver bullion (with a gold-to-silver ratio of 16); not implemented
29.03.1833
Start of issuance of emergency money by counter-stamping of silver coins from Potosí mint (Argentina)
24.10.1834
Law on the Chilean currency in the bimetallic standard with specie coins in the octal and copper subsidiary coins in the decimal system; effective immediately - 18.10.1843: Law on a (minimal) reduction of the weight of the silver coinage; effective immediately
09.01.1851
Law on the decimal currency the bimetallic standard (with metric weights); effective immediately
23.07.1860
Law on the issuance privilege for paper money by commercial banks; effective immediately - Paper money issuance began around 1870.
28.07.1860
Law on the switch to the gold standard; effective immediately
1878-1895
Monetary crisis and inconvertibility of the paper money: - 06.09.1878: Law on the suspension of convertibility; effective immediately. - 10.04.1879: Law on the issuance of state paper money; effective immediately - 14.03.1887: Law on the reduction of the amount of circulating paper money (preparation for the restoration of convertibility); effective immediately - 26.11.1892: Law on the restoration of convertibility (at a rate of 10 Chilean Pesos = 1 British Pound); effective 01.12.1895 (not implemented) - 31.03.1893: Law on the restoration of convertibility (at a rate of 10 Chilean Pesos = 1 British Pound); effective 01.06.1896 (not implemented) - 11.02.1895: Law [No. 277] on the restoration of convertibility (at a rate of 13⅓ Chilean Pesos = 1 British Pound); effective 01.06.1895
28.05.1895
Law [No. 280] on the withdrawal of the private paper money and exchange against gold by the government; effective 01.06.1895 (conversion was concluded on 01.05.1897).
1898-1925
Monetary crisis and inconvertibility of the paper money: - 31.07.1898: Law [No. 1054] on the suspension of convertibility (until 01.01.1902); effective immediately - Periodically extended between 1902 and 1925. - 16.10.1925: Law [No. 528] on the restoration of convertibility (at a rate of 40 Chilean Pesos = 1 British Pound); effective 01.06.1895
21.08.1925
Law [No. 486] on the establishment of the Central Bank of Chile; effective upon constitution of the bank on 11.01.1926 - 02.08.1935: Ordinance [No. 2266] on amending the 2025 central bank law; effective 04.09.1935.
16.10.1925
Law [No. 528] on the restoration of the gold standard; effective immediately
Valuation Regimes
1817-1878
Metallic currency based on circulating gold and silver coins. Base weight was the Castilian mark / 8 ounces / 8 octaves / 72 grains at 230.047 grams (1817-1851) and the kilogram (1851-1878).
1878-1895
Variable rate of the paper currency against the specie coins
1895-1898
Fixed rate against gold and British Pound
1898-1925
Variable rate
1925-1932
Fixed rate against gold and British Pound
1932-1934
Variable rate, inflationary
1935-1956
Fixed rate against US Dollar, 1937-1946 with multi-tier rate structure (levels: governmental, preferred, non-essential, free)
Fixed rate against US Dollar, unification of rate structure
Rate Arrangements
24.10.1834
Metallic
Peso: 1'480.08mg AU fine & 24'433.04mg AG fine
8½ Doubloons of 16 Pesos to the Castilian mark of 21-carats gold and 8½ Pesos to the Castilian mark of 10⅚-deniers silver => AU : AG = 16.508
18.10.1843
Metallic
Peso: 1'480.08mg AU fine & 24'431.35mg AG fine
8½ Doubloons of 16 Pesos to the Castilian mark of 21-carats gold and Peso of 542.08 Castilian grains of 10⅚-deniers silver => AU : AG = 16.507
09.01.1851
Metallic
Peso: 1'372.77mg AU fine & 22'500.00mg AG fine
Condor of 10 Pesos at 15.253 grams of 0.900 gold and Peso at 25 grams of 0.900 silver => AU : AG = 16.390
28.07.1860
Metallic
Peso: 1'372.50mg AU fine
Condor of 10 Pesos at 15.25 grams of 0.900 gold
23.07.1878
Variable
initially: British Pound at 1 : 5.34
±0.0%
01.06.1895
Fixed
British Pound at 1 : 13⅓ - [Gold parity] 549.18mg AU fine
-
31.07.1898
Variable
initially: British Pound at 1 : 13.33
±0.0%
16.09.1925
Fixed
British Pound at 1 : 40 - [Gold parity] 183.06mg AU fine
-
20.04.1932
Variable
initially: US Dollar at 1 : 16.50
-50.2%
01.01.1935
Fixed
US Dollar at 1 : 19.37 (official rate)
-
18.12.1946
Fixed
US Dollar at 1 : 31 - [Gold parity] 28.67mg AU fine (official rate)
-37.5%
02.10.1953
Fixed
US Dollar at 1 : 110 - [Gold parity] 8.08mg AU fine (official rate)
-71.8%
16.04.1956
Variable
initially: US Dollar at 1 : 490 (banking rate)
-77.6%
20.01.1959
Fixed
US Dollar at 1 : 1050
-
Time Period: 1960-1975
Currency: Chilean Escudo
Transition
1 : 1'000
Sub-units
Escudo / 100 Cents (1960-1973) none (1974-1975)
ISO4217
CLE
Timeline
06.04.1959
Law [No. 13305, title VI] on the currency reform; effective 01.01.1960 - 31.12.1973: Law [No. 231, §20] on the abolition of the sub-unit "Centavo"; effective 01.01.1974
01.01.1960
Start of currency exchange: - 01.01.1960: Start of issuance of the new banknotes and coins - 30.03.1960: Demonetization of the former currency.
Valuation Regimes
1960-1962
Fixed rate against US Dollar
1962-1973
Variable rate, highly inflationary
Rate Arrangements
01.01.1960
Fixed
US Dollar at 1 : 1.05
±0.0%
15.10.1962
Variable
initially: US Dollar at 1 : 1.395
-24.7%
Time Period: 1975-
Currency: 2nd Chilean Peso
Transition
1 : 1'000
Sub-units
Peso / 100 Cents
ISO4217
CLP
Timeline
04.08.1975
Law [No. 1123] on the currency reform; effective 29.09.1975
29.09.1975
Start of currency exchange: - 29.09.1975: Start of issuance of the new banknotes and coins - 31.12.1975: Demonetization of the former currency.
Valuation Regimes
1975-
Variable rate (1979-1982 fixed rate against US Dollar)