1. What is Chile’s currency? Find some pictures of it.
2. Has Chile always used this currency? What is the history?
3. What is Chile’s exchange rate system? Is the value of the currency determined by market forces (ie: a floating exchange rate) or is it fixed (pegged) against some
standard of value? What type of floating or fixed rate system does your country use?
(Refer to Chapter 15.)
4. How has Chile’s currency fluctuated against the US dollar since Jan 1, 2005?
Use the IMF’s historical currency tool, and make sure to select “representative rates.”
http://www.imf.org/external/np/fin/ert/GUI/Pages/CountryDataBase.aspx
Import the data to Excel, and make a graph. Put date on the horizontal axis and
currency units per dollar on the vertical axis. If helpful, you can trim the data down to
include the first day of each month, rather than including the data from every day.

PART 2: Balance of Payments
5. Create a graph showing Chile’s current account balance over the period 2010 – 2014.
6. Provide a brief (1 paragraph description) of your country’s current account. Is there a deficit or
a surplus? Is this surprising?

works cited MLA
Use Canvas to submit a nicely written response to the questions above, including charts pasted into the
document. Do not turn in a separate Excel file!!

You can access the IMF Balance of Payments database at :
http://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52

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