Certainly! Here is the comprehensive financial history report of Easter Island in International English, based on the information provided:

Comprehensive Financial History Report of Easter Island

Basic Information

• Country ISO Code: CL (Chile)

• Official Language: Spanish

• Language ISO Code: es

• Current Official Currency: Chilean Peso

• Currency ISO Code: CLP

Monetary History of Easter Island

Easter Island (Rapa Nui) is a Chilean territory located in the Pacific Ocean, about 3,700 km west of mainland Chile. The island is famous for its moai statues and has a population of approximately 8,000 inhabitants, with tourism as the main economic activity.

Current Official Currency: Chilean Peso (CLP)

• ISO Code: CLP

• Singular Name: Peso

• Plural Name: Pesos

• Subdivision: The Chilean peso does not have subdivisions in practical use due to inflation.

• Date of Introduction: The Chilean peso has been the official currency of Chile since 1975, replacing the former escudo.

• Mint: Casa de Moneda de Chile (Chilean Mint)

• Issuing Bank: Central Bank of Chile

• Coin Denominations: 1, 5, 10, 50, 100, 500 pesos (lower denominations are rarely used)

• Banknote Denominations: 1,000; 2,000; 5,000; 10,000; 20,000 pesos

• Designs / Symbols:

  • Banknotes feature historical Chilean figures, cultural symbols, and natural landmarks.

  • Coins depict national symbols such as the condor and the huemul (native deer).

• Status: Active, official currency used throughout Easter Island and mainland Chile.

Use of the United States Dollar

• The United States dollar (USD) is widely accepted on the island, especially in tourist establishments, facilitating transactions for international visitors.

• It is recommended to carry cash, as credit card acceptance is limited and not all businesses have card payment facilities.

Historical and Economic Context

• Easter Island was discovered in 1722 by Dutch explorer Jacob Roggeveen, who named it after Easter Sunday.

• In 1888, Chile annexed the island and initially used it as a sheep ranch managed by a Scottish company, with indigenous inhabitants working under harsh conditions until civil rights were recognized in 1966.

• Currently, the island’s economy is based primarily on tourism, with regular flights from Santiago and Tahiti.

• The cost of living on the island is high due to its remoteness and logistical challenges in transporting goods.

• The official currency is the Chilean peso, but the U.S. dollar is accepted to facilitate tourism.

Additional Information

• Issuing Authority: Central Bank of Chile

• Monetary Legislation: Regulated by Chilean law and the Central Bank of Chile.

• Curiosities:

  • Easter Island is one of the most remote inhabited places in the world, with a strong Rapa Nui cultural identity.

  • In 1937, Chile attempted to sell the island to Nazi Germany, but the deal did not proceed.

  • Cultural and archaeological tourism is the island’s primary source of income.

• Symbols and Honorees: Banknotes and coins honor historical figures and national symbols of Chile.

Summary Table

This report provides a complete overview of the financial history of Easter Island, highlighting the Chilean peso as the official currency, the informal use of the U.S. dollar for tourism, and the island’s historical and economic context.