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Economy, Currency and Banking

pesos equal, escudo, state bank, development banks, Chilean peso

The basic unit of currency is the Chilean peso (535 pesos equal U.S.$1; 2000 average). The peso was introduced in 1975 to replace the escudo. The autonomous Central Bank of Chile (established in 1926) is the bank of issue and has broad powers to regulate monetary policy. Other banks include a state bank and a number of commercial and development banks.



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pesos equal, escudo, state bank, development banks, Chilean peso, monetary policy, average

 
 

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