Chile Guide
Money
The basic unit of currency is the peso, usually represented by the $ sign (and by CH$ in this book, for clarity). Notes come in 500 (currently being phased out of circulation and replaced by a coin), 1000, 5000, 10,000 and 20,000 (rare) denominations, while coins come in 1 (rare), 5, 10, 50, 100 and 500 peso denominations. There's a chronic shortage of change in Chile, and trying to pay for something small with a CH$10,000 note (sometimes even a CH$5000 note) invariably results in the shopkeeper scurrying around, desperately trying to beg change from his neighbours. It's a good idea to break up these larger notes whenever you can – in big supermarkets and post offices, for instance – and keep a stock of loose change and small notes on you at all times. Many hotels, particularly the more expensive ones, accept US dollars cash (and will give you a discount for paying this way). Apart from this, however, it's more common to pay for everything in local currency, and most places, including the majority of restaurants and shops, won't accept anything else. You may, however, come across prices quoted in the mysterious "UF". This stands for unidad de fomento and is an index-linked monetary unit that is adjusted (every minute) on a daily basis to remain in line with inflation. It's normally reserved for dealing with large sums of money, and the only time you're likely to come across it is if you rent a vehicle (your liability, in the event of an accident, will probably be quoted in UFs on the rental contract). You'll find the exchange rate of the UF against the Chilean peso in the daily newspapers, along with the rates for all the other currencies.