Unidad de Fomento


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Unidad de Fomento

A non-circulating currency in Chile. It is adjusted for inflation relative to the Chilean peso (it was formerly adjusted relative to the Chilean escudo) so that its value remains constant. It was created in 1967 and was originally used to help the Chilean government pay its loans for international development.
References in periodicals archive ?
Payments of interest and principal will be made in US dollars (USD) adjusted according to the prevailing value of the Unidad de Fomento (UF) and the Chilean Peso (CLP)/USD exchange rate.
Molymet) and to two new Unidad de Fomento (UF) 7 million bond lines (in subscription process in the local market).
The periodic interest and final redemption amount paid by MLCS to the issuer will be made in a USD amount adjusted based on the then-prevailing values of both the Unidad de Fomento (UF) and the exchange rate between the USD and the CLP, as specified in the transaction's governing documents.

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