Between 1974 and 1979, the Chilean peso was allowed to float within a crawling band. From June 1979 to 1982 the peso was pegged to the United States dollar at a fixed exchange rate. In June 1982, during that year's economic crisis, the peso was devalued and different exchange rate regimes were used. In August 1984 the peso returned to a system of crawling bands, which were periodically adjusted to reflect differences between external and internal inflation.
Between 1974 and 1979, the Chilean peso was allowed to float within a crawling band. From June 1979 to 1982 the peso was pegged to the United States dollar at a fixed exchange rate. In June 1982, during that year's economic crisis, the peso was devalued and different exchange rate regimes were used. In August 1984 the peso returned to a system of crawling bands, which were periodically adjusted to reflect differences between external and internal inflation.