Definition

1. Noun:
   • The basic unit of money in Chile; equal to 100 centesimos: The "chilean peso" is the official and primary currency of Chile. It is subdivided into 100 smaller units called centesimos.

Usage

• The "chilean peso" is used to denote prices, values, and financial transactions within Chile.
• It is represented by the currency code CLP and the symbol $ or CLP$ to distinguish it from other peso currencies and the US dollar.

Examples

• Noun:
  • The price of the book is 10,000 chilean pesos.
  • I need to exchange my dollars for chilean pesos before my trip to Santiago.
  • The inflation rate has affected the value of the chilean peso.

Advanced Usage

• "The chilean peso strengthened against the US dollar": This phrase is used in financial contexts to describe an increase in the value of the Chilean currency relative to the US dollar.
• "Investing in chilean peso-denominated bonds": Refers to financial instruments where the principal and interest payments are made in Chilean pesos.

Variants and Related Words

• Peso (CLP): Often used as a shortened form, though context is needed to distinguish it from the currencies of other nations like Mexico or Argentina.
• Centesimo: The subunit of the chilean peso; 100 centesimos equal 1 peso. (Note: Centesimo coins are now largely theoretical due to inflation and are not in active circulation).
• Chilean Peso (CLP): The full formal name, often used in international finance and currency exchange markets.

Synonyms

• CLP: The official three-letter currency code for the chilean peso, used in banking and foreign exchange.
• Chilean currency: A general term for the money used in Chile.

Related Terms (Not Phrasal Verbs)

• Exchange rate: The value of one currency for the purpose of conversion to another (e.g., the exchange rate for the chilean peso).
• Currency devaluation/ appreciation: Terms describing the decrease or increase in the value of the chilean peso relative to other currencies.

Noun

1. the basic unit of money in Chile; equal to 100 centesimos