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USD exchange rates

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Clearwater, Florida
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USD exchange rates

Given the present exchange rate of 612 CHP to the USD can hotels be paid in CHP without incurring IVA taxes of 19%. Does a US passport and custom declaration upon entry keep them charging those taxes. Can any taxes be reclaimed when leaving Chile.

Santiago
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493 posts
10 reviews
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1. Re: USD exchange rates

For the exemption you need to pay in US dollars, no pesos.

Santiago, Chile
Destination Expert
for Chile
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10,380 posts
27 reviews
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2. Re: USD exchange rates

Not all hotels offer the IVA exemption. In general terms, the cheaper the lodging the less likely they are to offer it. You must pay in US dollars or, I believe, you can use a foreign based credit card. Ask your specific hotel.

There are no taxes which you can reclaim when leaving Chile.

Austin, TX
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300 posts
21 reviews
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3. Re: USD exchange rates

We were able to pay with a US-based credit card when we were there in 2007. We visited a number of places, staying mostly in budget hotels, and were never charged IVA.

The Chilean Central...
Destination Expert
for Chile
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2,021 posts
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4. Re: USD exchange rates

See this post regarding the IVA exemption:

tripadvisor.com/ShowTopic-g294305-i2020-k161…

WAS, BGO
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58 posts
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5. Re: USD exchange rates

Shouldn't you be able to get the exchange rate even when paying on your credit card? or do most hotels keep room rates fixed in dollars and not fluctating with the USD?

Santiago, Chile
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for Chile, Santiago
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6,228 posts
14 reviews
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6. Re: USD exchange rates

Prices in Chile can only be legally expressed in pesos - so yes you will get fluctuations if your bank's rate reflects them, but recently there have been quite remarkable fluctuations so the rate on one day may not be reflected when you recieve your statement.

WAS, BGO
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58 posts
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7. Re: USD exchange rates

Toid,

They should. Amex was taken to court in NYC and lost because they were not giving appropriate rates. CC issuers should use the cross rates for when the amount was charged. As an aside, I think CapOne has a card that does not charge the usual 1% conversion fee. (Some banks and cards charge 2% - granted this is only $20 on $1,000 worth of fun, so maybe not the end of the world.) Check with yor bank before leaving of course.

WAS, BGO
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58 posts
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8. Re: USD exchange rates

Not sure if linking is allowed, but the following wiki gives a good summary of charges and fees for foreign currency transactions:

flyerguide.com/wiki/index.php/Credit/Debit/A…

The Chilean Central...
Destination Expert
for Chile
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2,021 posts
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9. Re: USD exchange rates

The only way to get the real time rate would be to use a debit card and get cash pesos.

Credtit cards use the rate on the POST DATE not the TRANSACTION DATE. This may work for you or against you.

In recent weeks, the rate has been swinging 3% or even more on the same day.

10. Re: USD exchange rates

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