The Chilean escudo was the former monetary unit of Chile. It was introduced in 1960, replacing the old peso. The escudo was subdivided into 100 centavos. The currency was in use until 1975, when it was replaced by the current peso. The escudo was pegged to the US dollar at a fixed rate, but due to the high inflation rate in Chile during the 1970s, the currency lost its value over time. Nowadays, the escudo is no longer in circulation and has been replaced by the Chilean peso. However, some collectors and numismatists are still interested in acquiring Chilean escudo coins and banknotes.
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