The Chilean Peso (CLP) is traded via USD only, however the CLP-USD rate is freely floating. The exchange rate by June 2013: 1 USD = 500 CLP.
The “other” currency in Chile is the “UF” – this is an artificial currency for the correction of the inflation. All long term contracts as well as contracts over high values (especially real estate purchase and rental contracts) are made in “UF”, which means automatic inflation correction for every payment. The exchange rate by June 2013: 1 UF = 45 USD.
Strong and Stable
UF has gained 55% of value against USD between 1998 and 2013 and lost only 1,2% against CHF in the same period.