02/12/2016: Peace Agreement Impact
After the signing of the peace agreement with FARC, the Colombian Peso strengthened and saw improvements in the economy.
24/07/2001: Exchange rate flexibility
Colombia allowed the Colombian Peso to have a flexible exchange rate, transitioning from a fixed exchange rate system.
21/10/1999: Colombia's Financial Crisis
Colombia faced a financial crisis resulting in a devaluation of the Peso and an economic recession.
04/07/1991: Introduction of a New Peso
A new Peso was introduced with a higher value, replacing the old Peso due to high inflation.
29/09/1977: Decimals Introduced
Chile replaced the escudo with the decimal centavo as the subunit of the peso, simplifying its monetary system.
29/09/1975: Floating Exchange Rate
Chile moved from a fixed to a floating exchange rate system, allowing the peso to be determined by market forces.
02/01/1958: Introduction of Escudo as Subunit
The subunit of 1/100 peso, called the escudo, was introduced to facilitate smaller transactions in Chile.
12/06/1953: Creation of Banco de la República
The central bank of Colombia, Banco de la República, was established to regulate and control the Colombian Peso.
31/12/1925: Creation of the Central Bank of Chile
The Central Bank of Chile was established, gaining authority over the country's currency issuance and monetary policy.
25/06/1895: Gold Standard Adoption
Chile adopted the gold standard, tying the value of the Chilean Peso to the price of gold and stabilizing its currency.
31/07/1886: Adoption of the Gold Standard
Colombia adopted the gold standard, linking the value of the Peso to gold, stabilizing the currency.
15/06/1851: First Peso Coinage
The first official peso coins were introduced by the Chilean government, replacing the Spanish colonial currency.
27/05/1837: Introduction of the Peso
The Colombian Peso was introduced as the official currency of Colombia, replacing the Spanish real.
12/02/1817: Chilean Independence
Chile gained independence from Spain, leading to the establishment of the Chilean Peso as its official currency.