Data as of November 8, 2026. Anyone who converted CLP 1,000,000 into dollars on January 2, 2026, with the observed rate at CLP 907.13, now has the equivalent of CLP 1,080,198 just from the exchange rate's rise to CLP 979.88 (the rate in force on November 9, according to the Central Bank of Chile, observed dollar rate via mindicador.cl). That is 8.0% more. But anyone who did the same on January 2, 2025, at CLP 996.46, now has CLP 983,361: a loss in pesos. Investing in dollars from Chile protects against a falling peso, but adds a risk a peso deposit does not have: the exchange rate.
View the data as a table
| Observed dollar | $979.88 |
| Dollar rise in 2026 | 8.0% |
| 1-year Treasury | 4.33% |
| 10-year Treasury | 4.86% |
How to invest in dollars from Chile: the five options
From Chile you can buy and hold dollars without restrictions: the Central Bank regulates foreign-exchange transactions in its Compendium of International Exchange Rules, but individuals may hold accounts, deposits and investments in foreign currency. The options range from lower to higher risk and expected return. The first step for all of them is buying the dollars, and the buy-sell spread varies widely between a bank, an exchange house and an app, as we show in where to buy dollars in Chile.
| Option | What it is | Return | Main risk | For whom |
|---|---|---|---|---|
| Dollar account | Checking or demand account in USD at a Chilean bank | None or minimal | Exchange rate and maintenance fee | Travelers and people paying in dollars |
| Dollar time deposit | Fixed-rate USD deposit, from 30 days to a year or more | Fixed rate set by each bank | Exchange rate | Conservative dollar savers |
| Dollar mutual fund | Fund investing in debt or equities, valued in USD | Variable | Market and exchange rate; annual fee | Those wanting diversification without picking assets |
| US ETFs and stocks | Bought through a Chilean or international broker | Variable, highest over the long run | Stock market falls and exchange rate | Horizon of 5+ years |
| US Treasury bonds | US government debt, direct or via ETF | 4.0% to 5.3% a year depending on maturity (Nov 6, 2026) | Rates (long bonds) and exchange rate | Those seeking dollar fixed income |
Pauta Financiera compilation. Dollar deposit rates and account fees vary by bank and amount: each institution publishes them in its fee schedule and simulator. In pesos, the equivalent instrument is the time deposit, with no currency risk.
| Dollar account | 1 | Immediate |
| Dollar time deposit | 1 | At maturity |
| US Treasury bonds | 2 | Daily (at market price) |
| Dollar mutual fund | 3 | 1 to 10 days |
| US ETFs and stocks | 5 | Daily (at market price) |
Investing in dollars is also a bet on the exchange rate
The dollar in Chile moves far more than any deposit rate. In 2025 it fell from CLP 996.46 on January 2 to CLP 911.18 on December 30, -8.6%, with a high of CLP 1,012.76 on January 14. In 2026 it hit a low of CLP 854.25 on February 10 and a high of CLP 994.29 on October 27: a CLP 140.04 swing in eight months. What drives those moves, from copper to US rates, is detailed in dollar today in Chile.
View the data as a table
| Observed dollar | |
|---|---|
| Jan 24 | $908 |
| Feb 24 | $963 |
| Mar 24 | $968 |
| Apr 24 | $960 |
| May 24 | $918 |
| Jun 24 | $926 |
| Jul 24 | $938 |
| Aug 24 | $930 |
| Sep 24 | $926 |
| Oct 24 | $934 |
| Nov 24 | $972 |
| Dec 24 | $982 |
| Jan 25 | $1,001 |
| Feb 25 | $957 |
| Mar 25 | $933 |
| Apr 25 | $962 |
| May 25 | $941 |
| Jun 25 | $938 |
| Jul 25 | $952 |
| Aug 25 | $966 |
| Sep 25 | $960 |
| Oct 25 | $954 |
| Nov 25 | $936 |
| Dec 25 | $916 |
| Jan 26 | $884 |
| Feb 26 | $862 |
| Mar 26 | $910 |
| Apr 26 | $898 |
| May 26 | $898 |
| Jun 26 | $903 |
| Jul 26 | $931 |
| Aug 26 | $918 |
| Sep 26 | $947 |
| Oct 26 | $982 |
| Nov 26 | $979 |
View the data as a table
| Bought Jan 2, 2025 | Bought Jan 2, 2026 | |
|---|---|---|
| Jan 25 | $1,004,315 | No data |
| Feb 25 | $960,018 | No data |
| Mar 25 | $935,863 | No data |
| Apr 25 | $965,377 | No data |
| May 25 | $944,353 | No data |
| Jun 25 | $941,372 | No data |
| Jul 25 | $954,930 | No data |
| Aug 25 | $969,733 | No data |
| Sep 25 | $963,782 | No data |
| Oct 25 | $957,359 | No data |
| Nov 25 | $939,024 | No data |
| Dec 25 | $919,415 | No data |
| Jan 26 | $887,110 | $974,469 |
| Feb 26 | $865,082 | $950,272 |
| Mar 26 | $913,122 | $1,003,043 |
| Apr 26 | $901,080 | $989,814 |
| May 26 | $900,829 | $989,538 |
| Jun 26 | $906,589 | $995,866 |
| Jul 26 | $934,277 | $1,026,281 |
| Aug 26 | $920,920 | $1,011,608 |
| Sep 26 | $950,635 | $1,044,249 |
| Oct 26 | $985,770 | $1,082,844 |
| Nov 26 | $982,950 | $1,079,746 |
Does your brokerage, bank or app offer dollar investments? Advertise on Pauta Financiera and reach people looking for where to invest.
See advertising optionsWhat US Treasury bonds yield today
Treasury bonds are the benchmark for dollar fixed income: dollar deposits, bond funds and bond ETFs move around them. As of November 6, 2026, according to the U.S. Department of the Treasury, daily par yield curve, the 1-month bill yielded 4.02% a year, the 1-year 4.33%, the 10-year 4.86% and the 30-year 5.26%. As a peso reference, the Central Bank of Chile's policy rate stands at 4.5%. Long bonds pay more, but their price falls if rates rise; short-term bills carry almost none of that risk.
| Maturity | Annual yield (Nov 6, 2026) |
|---|---|
| 1 month | 4.02% |
| 3 months | 4.19% |
| 6 months | 4.23% |
| 1 year | 4.33% |
| 2 years | 4.51% |
| 5 years | 4.64% |
| 10 years | 4.86% |
| 30 years | 5.26% |
ETFs, stocks and funds: investing in dollars with more risk
For a long horizon, the most common route is buying an ETF that tracks an index, such as the S&P 500, through a Chilean broker with access to Wall Street or an international platform. Its annual cost is low, but the investment can fall sharply in a bad year. We explain how it works, what each ETF charges and how much it has returned in S&P 500: what it is and how to invest from Chile. The dollar mutual funds sold by Chilean banks and managers are the alternative for those who prefer to delegate: each one discloses its annual fee and returns in its factsheet and to the CMF.
What a million pesos in dollars can return in a year
A simple calculation shows why the exchange rate matters more than the yield. If CLP 1,000,000 is converted at CLP 979.88 and invested in a one-year Treasury at 4.33%, it returns about USD 1,064.72 at maturity. In pesos, that equals CLP 938,970 if the dollar falls 10%, CLP 1,043,300 if it holds and CLP 1,147,630 if it rises 10%. These are illustrative scenarios, before spread, fees and taxes.
Costs, taxes and rules before investing in dollars
- FX spread: paid when buying and again when selling the dollars; on small amounts it can outweigh a year's return.
- Fees: dollar account maintenance, broker commissions and the fund's or ETF's annual fee.
- Taxes: interest, dividends and gains from foreign investments are reported to the SII in the annual income tax return; keep the broker's certificates.
- Cash when traveling: anyone entering or leaving Chile with more than USD 10,000 in cash must declare it to Chilean Customs.
- Foreign platforms: they are not supervised by the CMF; if something goes wrong, protection depends on the country where they operate.
Frequently asked questions about investing in dollars
Is investing in dollars worth it in 2026?
It depends on the goal. The dollar rose 8.0% in 2026 through November 9, but fell 8.6% in 2025. It works to diversify or for future dollar expenses, not as a short-term bet.
Can I open a dollar account at a Chilean bank?
Yes. Most large banks offer a dollar checking or demand account, usually linked to a peso account; each publishes its fee in its schedule.
What does a US Treasury bond yield?
As of November 6, 2026, between 4.02% a year at one month and 5.26% at 30 years, according to the Treasury Department.
Is there a limit on buying dollars in Chile?
There is no general limit for individuals. FX transactions follow Central Bank rules, and cash over USD 10,000 must be declared at the border.
This information is journalistic and educational, not financial advice. Check the conditions and the total cost (CAE) with the institution before signing up.
