::: MONEY :::

Currency: Chilean currency is the peso. Notes are of 1.000, 2.000, 5.000, 10.000 and 20.000 pesos. Coins are of 1, 5, 10, 50, 100 and 500 pesos.Currently the exchange rate for US$ 1.00 is approximately $600 Chilean pesos.

Use of Foreign Currency: Cash in foreign currency is not generally accepted, except at some hotels which offer discounts on taxes for foreigners paying in cash with American dollars.

Currency Exchange: The foreign currency market in Chile is not regulated by the government. This enables one to buy and sell money in any "Casa de Cambio". These money exchange businesses are very common in the downtown area in Santiago, near Universidad de Chile and La Moneda subway stops, in Providencia and in other commercial malls.

Credit Cards: Credit cards are widely accepted. Those most frequently accepted include Visa, MasterCard and Diners Club. In larger businesses, American Express is also welcomed.

Automatic Teller Machines: In banking and commercial areas and at many gas stations, it is easy to find automatic teller machines (Redbanc), which dispense pesos. These 24-hour cash machines accept local bank cards as well as banking cards in financial networks such as Cirrus, Plus, and Maestro.

Taxes and tipping: Value-added tax (VAT) is 19% and is normally included in the price. Tipping is usual for all services except for taxi drivers.