The official currency in Chile is called Peso, the symbol for peso is the same as the dollar sign. Denominations are: coins $1 (rarely used), $5, $10, $50 and $100, and bank notes: $500, $1.000, $5.000 and $10.000. (Note the use of a dot to indicate thousands.) One US dollar is equivalent to approximately 536 pesos. This rate is pretty stable, so you must expect to get between $ 570 to $590 for US$1.00. If you come from abroad, bring US dollars with you. Other currencies can only be traded in downtown Santiago during business hours. If you bring chilean pesos it is very likely that the rate of exchange will be very bad. While trading in US dollars is legal, very few shops take them. (They do in the airport, many hotels, travel agencies, and other touristic sites.) US dollars can be changed freely in money exchange shops (open during business hours, Mon. to Fri.), travel agencies, and hotels. You can also buy some pesos at the airport, in the baggage claim area. In addition, some shopping malls have an exchange shop which opens every day and buys US dollars at a reduced rate: use them only for small amounts. Because 1 peso is so little money, no decimals are ever used in prices. Unless otherwise specified, prices shown in stores include VAT (Value-added Tax, or in Spanish IVA, Impuesto al Valor Agregado). Inflation in Chile has been going down steadely in the last few years. Currently it is about 1.7% yearly. However, the value of the US dollar has been relatively stable over the years, slightly above $700, but sometimes going as high as $720 in early 2002 and as low as $370 by mid 1995. Thus, the cost of living as expressed in US dollars has been up and now is similar to that of developed countries. A diez mil pesos bill  A bill of $10.000 pesos |
A veinte mil pesos bill  A bill of $20.000 pesos |
A cinco mil pesos bill  A bill of $5.000 pesos |
A dos mil pesos bill  A bill of $2.000 pesos |
A mil pesos bill  A bill of $1.000 pesos |
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