INFORMATION ABOUT UNIDAD DE FOMENTO
We show the updated today’s value/price of Unidad de Fomento (CLF).You can get the exchange from Unidad de Fomento to another currency by introducing the value or amount of Unidad de Fomento (CLF) in the box and clicking the convert button. This way you can get the Unidad de Fomento’s price in relation to other currencies.
INTRODUCTION TO THE UNIDAD DE FOMENTO
The Unidad de Fomento (CLF) is an entity of account used in Chile according inflation. It was created in 1967 and it was intended to revalue savings according changes in inflation for the money to maintain its purchasing power. Subsequently, it extended to the credit system. It is used by approximately 17 million seven hundred thousand people. You can check the today value of the Unidad de Fomento and check its price.
The Initial Value of the UF in 1967 was E° 100 (a hundred escudos) which was readjusted quarterly according the RPI (Retail Price Index). In 1975 it was expressed in pesos and it was readjusted monthly. On July, 1977 it was adjusted daily. Since 1990 the Banco Central de Chile determines its value. The RPI’s values are the officially informed by the SSO (Spanish Statistical Office).
The Banco Central de Chile is a self-governed organization, with constitutional status, technical, with legal personality, with its own equity instruments and indefinite duration. It was created in 1925 and it regulates the amount of money and credit circulating, executes operations of international exchange and gives monetary, lending, financial and international exchange regulations.
Countries that use the UF: Chile
Name: UNIDAD DE FOMENTO
Issuing Agent: Banco Central de Chile Web: http://www.bcentral.cl/