Todo Sobre Unidad de Fomento: Historia, Uso y Cálculo

The Unidad de Fomento (UF) is a unique unit of currency in Chile. It was created in 1967 to help stabilize the economy.

One of the main reasons the UF was introduced was to combat inflation. The government wanted to find a way to maintain the value of money during a period of high inflation rates.

The UF is pegged to the US dollar and its value is adjusted every 12 months to reflect changes in the inflation rate. This helps to maintain its purchasing power.

This system has been in place for over 50 years, with the UF becoming an essential tool for businesses and individuals in Chile.

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The Unidad de Fomento, or UF, is a financial unit that adjusts according to inflation, specifically the Index of Consumer Prices (IPC).

It was created by the Government of Frei Montalva in the late 60s and has undergone some changes over the years.

The UF is used to revalue credits and ensure their payment is adjusted to inflation.

It's also used for paying premiums and deductibles of insurance, loans, and credits, as well as construction costs and housing in general.

The UF is used to calculate the taxable salary for AFP, Isapres, and Fonasa.

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The Unidad de Fomento (UF) has a rich history that dates back to 1967, when it was first introduced with a value of Eº 100.

In its early days, the UF was revalued quarterly based on the Index of Consumer Prices (IPC) of the previous quarter. This meant that its value changed frequently.

By 1975, the UF had become a peso-based unit, with a monthly revaluation tied to the IPC. This change marked a significant shift in the UF's value.

In 1977, the UF's daily value was adjusted between the 10th of each month and the 9th of the following month, based on the monthly IPC variation. This change aimed to keep the UF's value more closely tied to inflation.

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Since 1990, the Banco Central de Chile has determined the UF's value, following a specific calculation method established by the Compendio de Normas Financieras.

Here's a brief overview of the UF's evolution over the years:

The UF's value has fluctuated significantly over the years, with notable increases in 1975 and 2022.

The Unidad de Fomento (UF) is widely used in financial transactions in Chile. It's a reajustable unit, meaning its value changes daily to keep pace with inflation.

Many private contracts, such as the cost of maintaining current accounts, are expressed in UF. This helps to account for inflation and ensures that the value of the contract remains stable over time.

In Chile, the UF is used in a variety of financial transactions, including bank loans and investments. It's also used to determine the cost of construction, property values, and mortgage payments.

Here are some examples of how the UF is used in financial transactions:

You can check the daily value of the UF on the Servicio de Impuestos Internos website or on the valoruf.cl website.

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The Unidad de Fomento (UF) is a unit of account that's adjusted according to inflation, specifically the Consumer Price Index (CPI). Its value is recalculated daily, which is a big change from its initial trimestral adjustment period in 1967.

In 1975, the UF's value was converted to pesos, and it's been readjusted monthly since then. However, in 1990, the Central Bank of Chile took over the responsibility of determining its value.

The UF is used to calculate various financial values, including salaries, insurance premiums, and loan payments. It's also used to determine the value of credits and deposits.

To calculate the daily value of the UF, you need to know the monthly variation of the CPI. This is determined by the Instituto Nacional de Estadísticas (INE) and is used to calculate the daily adjustment factor.

Here's the formula to calculate the daily value of the UF:

Reajuste diario = Factor de reajuste diario del valor de la Unidad de Fomento. Rd

d = Nº de días comprendidos en el período para el cual se calcula el valor diario de la UF.

vIPC = Variación porcentual del IPC registrada en el mes inmediatamente anterior.

This formula is applied daily to calculate the new value of the UF.

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The Unit of Fomento (UF) plays a significant role in Chile's financial system, particularly when it comes to previsión y seguros (pension and insurance).

The maximum imponible sueldo for AFP, Isapres, Fonasa, and seguro de cesantía is expressed in UF, and it gets reajustado (revised) every year. As of December 2015, the tope imponible was 73.2 UF.

The Superintendencia de Pensiones published a modification in January 2016, which updated the tope imponible mensual for Cotizaciones Obligatorias de AFP, Salud, Ley de Accidentes del trabajo, and Seguro de Cesantía to 74.3 UF.

The UF is also used to specify the price of Isapres plans and the maximum amounts to be paid for different prestaciones.

Most seguros in Chile express their prima (premium) and capital asegurado (insured capital) in UF.

Here are some key facts about the UF's role in previsión y seguros: