The Chilean peso is the currency of Chile. The banknotes have both a paper banknote and polymer (plastic) banknote series in circulation. The Central Bank of Chile is responsible for issuing the Chilean banknotes. Since 1999, the Chilean peso has been permitted by the government to be a freely determined currency, however the Central Bank of Chile (CBC) reserves the right to intervene if necessary. Their primary objective is to ensure the stability of the currency.