The Constitutional Organic Law confers upon the Central Bank of Chile the power to issue rules on international exchange. Thus, although the principle of freedom of exchange is enshrined in said law, according to which any person may freely carry out international exchange operations, the Bank may establish exchange limitations and restrictions.

At present, and consistent with the exchange policy framework in force since September 1999, which consists in a floating exchange regime; the Central Bank of Chile’s exchange regulations essentially establish that certain operations must be carried out within the so-called Formal Exchange Market, and reported to the Central Bank of Chile.

The Central Bank’s regulations on this matter are contained in the Compendium of International Exchange Regulations and in its Manual of Procedures and Information Forms, which determines the requirements, general provisions, and instructions to operate in the Chilean exchange market.