1 Escudo

The escudo replaced the Chilean peso in 1960 at a rate of 1,000 to one — itself a signal of how badly inflation had eroded the old currency. The Banco Central had been fighting that inflation for years with limited success, and the redenomination was as much a psychological reset as a technical one. It didn't hold: by 1975 the escudo was replaced in turn by a new peso, again at 1,000 to one.

Printed domestically by the Casa de Moneda in Santiago throughout the escudo period, the P#135A is among the lower-denomination notes of the series and circulated heavily.