The values of the CPI are officially kept by the Instituto Nacional de Estadísticas de Chile (National Statistics Institute of Chile). Since 1990 the Central Bank of Chile has determined its value.
In July 1977 it was calculated daily by interpolation between the 10th of each month and the 9th of the following month, according to the monthly variation of the CPI. In October 1975 with the currency changeover to pesos, the value of 1 UF was quoted in pesos and readjusted monthly. A similar currency unit for use generally in payment of taxes, fines, or customs duty is the Unidad Tributaria Mensual (UTM) (literally: monthly tax unit).įrom its creation in 1967, each calendar quarter, the UF value of 100 Chilean peso would be quoted based on the Consumer Price Index (CPI) of the past three months, which would be the official rate for the following quarter. El clculo se realiza en base a la variacin del IPC publicada por el Instituto Nacional de Estadsticas. Individual payments are made in Chilean pesos (the country's legal tender), according to the daily value of the UF. El valor de la unidad de fomento se publica a ms tardar el da 9 de cada mes en el Diario Oficial de la Repblica de Chile, abarcando desde el da 10 del mes hasta el 9 del prximo. It is also used in legal standards such as the par value of stock and capitalization of companies, and fines. Afterwards it was extended to all types of bank loans, private or special financing, purchases and investments on instalments, contracts, and some special situations. It was created on 20 January 1967, for the use in determining the principal and interest in international secured loans for development, subject to revaluation according to the variations of inflation. It is a non-circulating currency the exchange rate between the UF and the Chilean peso is constantly adjusted for inflation so that the value of the Unidad de Fomento remains almost constant on a daily basis during low inflation. The Unidad de Fomento ( UF) is a unit of account used in Chile. Pesos Chilenos (CLP) 5 CLP Pesos Chilenos Elementos de proteccin personal para el rea de la industria Qu significa UTM en Chile Qu es la UTM La Unidad Tributaria Mensual (UTM) es una unidad de cuenta definida en Chile que corresponde a un monto de dinero expresado en pesos, y determinado por el Cdigo Tributario. Unit of account used in Chile Unidad de Fomento
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