Argentine peso

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peso
Country: ArgentinaArgentina Argentina
Subdivision: 100 centavos
ISO 4217 code : ARS
Abbreviation: $, arg $
Exchange rate :
(29 Mar 2020)

1  EUR  = 71.6664 ARS
1 ARS = 0.01395 EUR

1  CHF  = 66.5983 ARS
1 ARS = 0.01502 CHF

The Argentine peso ( Spanish peso , weight) has been the currency of Argentina since January 1, 1992 . 1 peso is divided into 100 centavos (¢).

There are banknotes of 2, 5, 10, 20, 50, 100, 200 and 500 pesos in circulation , as well as coins of 1, 5, 10, 25, 50 centavos, 1 peso and 2 pesos (as of April 2020). In the past there were also 1 peso notes, but these are no longer in circulation.

Exchange rate of the Argentine peso to the US dollar from the beginning of December 2001 to the end of January 2008

Former Argentine currencies

The forerunners of the peso ( ARS ) were

  • from 1822 to 1826 the Real Argentino
  • from 1826 to November 4, 1881 the Peso Moneda Corriente (paper money was called "Peso fuertes", from January 3, 1867 as gold-linked currency)
  • From November 5, 1881 to December 31, 1969 the Peso Moneda Nacional (100 Pesos Moneda Nacional = 1 Peso Ley , until 1896 as gold-linked currency)
  • from January 1, 1970 to May 31, 1983 the Peso Ley ( ARL ; 10,000 Pesos Ley = 1 Peso Argentino )
  • from June 1, 1983 to June 14, 1985 the Peso Argentino ( ARP ; 1,000 Pesos Argentinos = 1 Austral )
  • from June 15, 1985 to December 31, 1991 the Austral ( ARA ; 10,000 Austral = 1 Peso )

Depreciation of the Argentine currency

Decline in value of the Argentine currency 1935-2005 ( logarithmic exchange rate scale)
Exchange rate of various Argentine currencies to the US dollar from 1935 to February 2006 (logarithmic rate scale)
20 pesos

The Argentine currency has been heavily devalued several times , and it has been renamed four times since 1935 alone, with 2 to 4 zeros deleted each time, a total of 13 zeros. If you could get 251.2 billion US dollars for a trillion Moneda Nacional at the beginning of 1935 , you would have received only 3 US cents for the same amount at the beginning of 2005, if the original Argentine currency had still been valid at that time.

The decline in value was not always the same. Particularly strong phases of decline in value were (reference date at the end of January of the specified years):

  • the period 1948–1951 with annual devaluations between 17 and 46% against the US dollar
  • 1955/56 with a depreciation of -65%
  • 1958/59 and to a lesser extent 1959/1960 with devaluations of 43% and 21% respectively
  • 1962/63 with a depreciation of 38%
  • 1965–1968 with devaluations between 20 and 30%
  • 1971/72 with a devaluation of 58%
  • 1975/76 with a devaluation of 95%
  • in the following period between 1976 and 1981 annual devaluation between 18 and 54%
  • 1981-84 with annual devaluations of around 80%
  • 1984/85 with a devaluation of 88%
  • 1985–1989 with annual devaluations between 39 and 76%
  • as well as the turn of the year 1989/90 with the peak value of a devaluation within an annual period of 99%!
  • in the penultimate year before the dollar parity 1990/1991 a devaluation of 75%
  • a devaluation of 25% in the last annual period before dollar parity

Between April 1, 2002 January 10, 1991, the Argentine peso was by law to the US dollar linked , and there was only slight fluctuations in tenths of dollar range. The exchange rate was initially 10,000 australes per dollar and with the introduction of the new currency peso on January 1, 1992, one peso per dollar.

The Argentina crisis led to the collapse of the financial system at the end of 2001. On January 11, 2002, the peso was initially devalued by 29% to 1.40 pesos per US dollar; this exchange rate could not be kept stable. Therefore, the currency was released on January 31, 2002. The peso fell to an exchange rate of 3.87 peso to the US dollar, which it reached on June 26, 2002 (74% depreciation compared to December 20, 2001); by mid-2003 it had risen to around 3 pesos per US dollar. Thereafter, the peso remained stable for several years (e.g. February 2009: USD 1 = ARS 3.55) (also due to interventions by the Argentine central bank that were directed against further appreciation ).

From spring 2012 to December 2015 it was only possible to buy foreign currencies in Argentina in exceptional cases. The official exchange rate in November 2013 was around 5.90 pesos for one US dollar, and the black market rate was more than 9 pesos for one US dollar.

Mauricio Macri ( President of Argentina from December 10, 2015 to December 9, 2019) and his government largely lifted exchange controls a few days after taking office.

At the end of April 2018, the peso rate fell unexpectedly. The Argentine central bank raised the base rate to 40%, almost double the inflation rate expected for 2018.

Web links

Commons : Argentine Coins and Banknotes  - Pictures, Videos and Audio Files Collection

Footnotes

  1. ↑ Billetes y Monedas | Emissions vigentes. Retrieved April 5, 2020 .
  2. ↑ DolarBlue.net - website with current black market prices.
  3. ↑ FAZ.net December 17, 2015: Argentina's peso should depreciate drastically after approval
  4. ↑ FAZ.net May 7, 2018: Currency turbulence around Argentina again