Chile's dollar jumps CLP 17 in its biggest daily gain in five months after the US CPI: today's observed rate is CLP 977.05

The dollar posted its biggest daily gain in five months on Tuesday, November 10, 2026: it closed at CLP 983.60, CLP 17.07 higher than on Monday, and touched CLP 986.15 during the session, according to La Tercera. It is the largest jump since June 5 (+CLP 19.80). The trigger was the US consumer price index (CPI), which rose 0.4% in October, more than the 0.3% the market expected, according to the Bureau of Labor Statistics (BLS). With that data, the observed dollar rate published by the Central Bank for Wednesday, November 11 is CLP 977.05, CLP 7.25 higher than Tuesday's (CLP 969.80), according to the Central Bank of Chile.

The October CPI showed that US inflation is not easing: the headline index rose 0.4% seasonally adjusted, after 0.6% in September, and core CPI (excluding food and energy) rose 0.3% for the third month in a row. Energy rose 0.7% and shelter 0.3%, according to the Bureau of Labor Statistics (BLS). On the same Tuesday, Federal Reserve Governor Christopher Waller said rates should rise next month. The result was that markets fully priced in a hike at the December meeting: CME's FedWatch tool put 87.5% on a 25 basis point hike and 12.5% on a 50 point hike, and the probability of another hike in January jumped from 19.3% to 57.2%, according to La Tercera.

Higher US rates make dollar investments more attractive and tend to strengthen the US currency against emerging ones. The dollar index (DXY) rose 0.57% to 102.2 points and copper fell 0.27% to US$6.34 a pound in London, a mix that usually pushes the Chilean peso down (La Tercera). One figure that circulated in some media, annual inflation of 3.7%, does not correspond to October: it is September's. For October the BLS did not publish a 12-month change, because it did not collect prices in October 2025 during the federal government shutdown. We explain it in what the US October CPI said.

With today's value, the observed rate is up 7.7% in 2026: it started the year at CLP 907.13 (January 2). Its low was CLP 854.25 on Feb 10 and its high CLP 994.29 on Oct 27, according to the daily series of the Central Bank of Chile. October was the most expensive month of the year, with an average of CLP 982.28. The full history of the indicator and how it is calculated is in what the observed dollar is.

Source: Central Bank of Chile, daily observed rate; November up to the 11th.

On Wednesday the dollar opened almost flat, at CLP 984.9 according to Bloomberg, with the dollar index up 0.3% to 102.5, near its highest since April 2025, copper bouncing 1% to US$6.27 a pound in New York and Brent up 1.8% at US$93.1, according to Diario Financiero. The US bond market was closed for Veterans Day, and analysts expect the dollar to consolidate its gains until Friday, when October producer prices come out. Juan Ortiz of XTB told La Tercera that the exchange rate could approach CLP 990 in the short term if rate expectations hold and copper stays weak.

The financial traders surveyed by the Central Bank, however, expect a dollar of CLP 970 at 7 and 28 days, according to the survey published this Wednesday, and the economists in the Economic Expectations Survey see it at CLP 960 in two months and CLP 930 in 11 months. Details are in the November financial traders survey.

In the observed rate, which averages the previous day's trades, today's jump (+CLP 7.25) is smaller than the market close move, because on Tuesday the dollar started low and climbed in the afternoon. The biggest daily rises in the observed rate this year were others:

For household budgets, a more expensive dollar raises the cost of purchases on foreign websites, airfares and dollar debts, and benefits those who earn income or hold savings in that currency. If you plan to buy dollars, compare the selling price across banks, exchange houses and apps, which is always higher than the observed rate: we review it in where to buy dollars in Chile. This article is informative and is not a recommendation to buy or sell currency.

The observed rate is the reference for converting dollar purchases, debts and contracts. At today's value, here are some examples of how much the same thing costs in pesos compared with the start of the year. The calculation uses the observed rate; cards and exchange houses apply their own rate, usually higher, and some cards add a fee on international purchases.

Pauta Financiera calculation with the observed rate from the Central Bank of Chile: CLP 907.13 on January 2 and CLP 977.05 today.

Anyone who has to pay something in dollars in the coming weeks faces an open scenario: markets expect more US rate hikes, pointing to a firm dollar, while local surveys expect a somewhat lower exchange rate. One way to reduce the risk is not to concentrate the purchase on a single day. If the goal is to save or invest in that currency, the options and their costs are in how to invest in dollars from Chile.

What is the dollar rate today, Wednesday, November 11, 2026?

The observed rate for today is CLP 977.05, according to the Central Bank. In the market it opened around CLP 985.

Why did the dollar rise so much on Tuesday?

Because the US CPI rose 0.4% in October, more than expected, and markets priced in a Fed rate hike in December.

What is the dollar's 2026 high?

The highest observed rate of the year was CLP 994.29, on Oct 27.

When is the next Fed meeting?

On December 8-9, 2026, with the decision on Wednesday the 9th, according to the Federal Reserve's calendar.