Description
The peso is the currency of Chile. The current peso has circulated since 1975, with a previous version circulating between 1817 and 1960. Its symbol is defined as a letter S with either one or two vertical bars superimposed prefixing the amount. This symbol is used by many currencies, most notably the United States dollar.
Banknotes
The first Chilean paper money was issued between 1840 and 1844 by the treasury of the Province of Valdivia, in denominations of 4 and 8 reales. In the 1870s, a number of private banks began issuing paper money.
In 1881, the government issued paper money convertible into silver or gold. This marked the end of the production of private paper money.
In 1925, the Banco Central de Chile began issuing notes. The first, in denominations of 5, 10, 50, 100 and 1000 pesos, were overprints on government notes.
Escudo
The escudo was the currency of Chile between 1960 and 1975, divided into 100 centésimos. It replaced the old peso at a rate of 1 escudo = 1000 pesos and was itself replaced by a new peso, at a rate of 1 peso = 1000 escudos.
