100 Pesos 100th Anniversary of the Central Bank

The Banco Central de Chile was established in August 1925 under pressure from the Kemmerer Mission — the U.S. advisory team led by economist Edwin Kemmerer that restructured monetary institutions across five South American nations in rapid succession during the 1920s. Chile was the first of that cohort, and the bank's founding was explicitly modeled on U.S. Federal Reserve architecture. A century of institutional continuity in Latin America is genuinely unusual; most of the region's central banks have been dissolved, reconstituted, or stripped of independence at least once in the intervening decades.