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'{{short description|Currency of Argentina}} {{redirect|Peso argentino|the currency used between 1983 and 1985 officially called the "peso argentino"|Argentine peso (1983–1985)}} {{Infobox currency | local_name = Peso argentino | replaced_currency = [[Argentine austral]] | local_name_lang = es | image_1 = 500 pesos de Argentina.jpg | image_title_1 = ARS 500 obverse | using_countries = {{flag|Argentina}} | inflation_rate = 271.5% in June 2024 | value = Exchange Rate <br>1 USD = 1,600 ARS <br> <ref>{{cite web|url=https://www.ambito.com/politica/chau-dolar-blue-javier-milei-dijo-que-no-es-ilegal-comprar-cuevas-n5904594?sequence=4|title=Chau dólar blue: Javier Milei dijo que no es ilegal comprar en "cuevas"}}</ref> <ref>{{cite web|url=https://www.cronista.com/MercadosOnline/moneda.html?id=ARSB?sequence=4|title=Dólar Blue}}</ref> | inflation_source_date = ''[https://www.bcra.gob.ar/ Central Bank of the Argentine Republic]'' | iso_code = ARS | unit = peso | symbol = | symbol_comment = ARS<ref>{{cite web|url=https://openknowledge.worldbank.org/bitstream/handle/10986/33367/33304.pdf?sequence=4|title=World Bank Editorial Style Guide 2020 - page 134 |website=openknowledge.worldbank.org |access-date=2022-08-22}}</ref> | frequently_used_banknotes = ARS 1,000, ARS 2,000, </br> ARS 10,000 | issuing_authority = [[Central Bank of Argentina|Central Bank of the Argentine Republic]] | issuing_authority_website = {{URL|www.bcra.gov.ar}} }} The '''peso''' (established as the ''peso convertible'') is the currency of [[Argentina]] since 1992, identified within Argentina by the symbol [[Dollar sign|$]] preceding the amount in the same way as many countries using peso or [[dollar]] currencies. It is subdivided into 100 ''[[centavo]]s and then Central Bank introduced new issues with peso subdivisions like 1, 2, 5 and 10.'' Due to rapid inflation, coins are not used. Same situation occurs with 10, 20, 50, 100, 200, 500, 1,000 and 2,000 peso banknotes, these banknotes are no longer printed, but they're still valid. Its [[ISO 4217]] code is '''ARS'''.<ref>{{cite book| title=The World Factbook |chapter=Argentina - Exchange rates section| publisher=CIA | date=6 December 2023 |chapter-url=https://www.cia.gov/the-world-factbook/countries/argentina/ }}</ref> It replaced the [[Argentine austral|austral]] at a rate of 10,000 australes to one peso. Argentine currency has experienced severe [[inflation]], with periods of [[hyperinflation]], since the mid-20th century, with periodic change of the currency to a new version at a rate ranging from 100:1 to 10,000:1. A new peso introduced in 1992, officially the ''peso convertible de curso legal'', was worth 10,000,000,000,000 (ten trillion) [[Argentine peso moneda nacional|pesos moneda nacional]], the currency in use until 1970. Since the early 21st century, the peso has experienced further substantial inflation, reaching 289.4% year-on-year in April 2024, the highest since the current peso was introduced in the [[Convertibility plan]] of 1991.<ref name=inflat>{{cite web | title=Banco Central de la República Argentina| publisher=Banco Central de la República Argentina | url=https://www.bcra.gob.ar/ | language=es}} Updated monthly.</ref> The official exchange rate for the [[United States dollar]] valued the ''peso convertible de curso legal'' at one US dollar at its introduction in 1992, which was maintained until early 2002. Afterwards, it went from a 3:1 exchange rate with the US dollar in 2003 to 178:1 in early 2023. On 14 August 2023, the official exchange rate was fixed at ARS$350 to one [[United States dollar|US dollar]]; the [[Parallel exchange rate|unregulated rate]] valued the peso at ARS$665 to one US dollar.<ref>{{cite news |last1=Raszewski |first1=Eliana |last2=Rosario |first2=Jorgelina |title=Argentina devalues peso, raises rates after shock primary vote |url=https://www.reuters.com/markets/argentina-markets-face-election-hangover-after-far-right-primary-bombshell-2023-08-14/ |access-date=12 January 2024 |work=Reuters |date= 14 August 2023 |archive-url=https://web.archive.org/web/20231110221028/https://www.reuters.com/markets/argentina-markets-face-election-hangover-after-far-right-primary-bombshell-2023-08-14/ |archive-date=10 November 2023}}</ref> On 15 November 2023, the [[crawling peg]] was restored.<ref>{{cite news |last1=Bianchi |first1=Walter |last2=Otaola |first2=Jorge |title=Argentina restarts 'crawling peg' to let currency weaken for first time since August |url=https://www.reuters.com/markets/currencies/argentina-restarts-crawling-peg-let-currency-weaken-first-time-since-august-2023-11-15/ |access-date=12 January 2024 |work=Reuters |date= 15 November 2023 |archive-url=https://web.archive.org/web/20231130124417/https://www.reuters.com/markets/currencies/argentina-restarts-crawling-peg-let-currency-weaken-first-time-since-august-2023-11-15/ |archive-date=30 November 2023}}</ref> [[File:USD to Argentina Peso exchange rate.webp|thumb|right|260px|[[United States dollar|USD]]/Argentine Peso [[exchange rate]]]] In 12 December 2023, following the election of president [[Javier Milei]], economy minister [[Luis Caputo]] changed the official exchange rate to 800 pesos to the U.S. dollar from the previous 366.5, a devaluation of 54%, to be followed by a [[Crawling peg|monthly devaluation]] target of 2%.<ref>{{cite news |last1=Sweney |first1=Mark |title=Argentina's new government devalues peso by more than 50% |url=https://www.theguardian.com/world/2023/dec/13/argentina-new-government-devalues-peso-economic-crisis |access-date=24 January 2024 |work=The Guardian |date=13 December 2023 |archive-url=https://web.archive.org/web/20231221033608/https://www.theguardian.com/world/2023/dec/13/argentina-new-government-devalues-peso-economic-crisis |archive-date=21 December 2023}}</ref> At the time, the free-market exchange rate (according to the official denomination) was around 1,510 pesos per dollar.<ref>{{cite web |title=Cotización Dólar Blue - El Cronista |url=https://www.cronista.com/MercadosOnline/moneda.html?id=ARSB |url-status=live |archive-url= |website=El Cronista}}</ref> ==History== Amounts in earlier pesos were sometimes preceded by a "$" sign and sometimes, particularly in formal use, by symbols identifying that it was the specific currency in use at the time, for example "{{frac|$|m|n}}100" or "{{val|p=m$n|100}}" for ''pesos moneda nacional''. The peso introduced in 1992 is just called ''peso'' (until 2002, ''peso convertible''), and is written preceded by a "$" sign only. Earlier pesos replaced currencies also called peso, and sometimes two varieties of peso coexisted, making it necessary to have a distinguishing term to use, at least in the transitional period; the 1992 peso replaced a currency with a different name, ''austral''. ===Peso before 1826=== The ''peso'' was a name often used for the silver Spanish eight-[[Spanish real|real]] coin. Following [[Argentine Declaration of Independence|independence]], Argentina began issuing its own coins, denominated in [[Argentine real|reales]], ''[[Argentine sol|soles]]'' and ''escudos'', including silver eight-real (or sol) coins still known as pesos. These coins, together with those from neighbouring countries, circulated until 1881. ===Peso fuerte, 1826–1881<!--Linked from Argentine peso moneda corriente-->=== [[file:200 pesosfuertes belgrano tren 1869.jpg|thumb|200 ''pesos fuertes'' banknote issued in 1869]] In 1826, two paper money issues began, denominated in pesos. One, the ''peso fuerte'' (''$F'') was a convertible currency, with 17 pesos fuertes equal to one Spanish ounce (27.0643 g) of 0.916 fine gold. It was replaced by the peso moneda nacional at par in 1881. ===Peso moneda corriente, 1826–1881=== {{main|Argentine peso moneda corriente}} [[File:Cinco pesos moneda corriente.jpg|thumb|"Cinco pesos" ''moneda corriente'' banknote, issued 1869]] The non-convertible ''[[Argentine peso moneda corriente|peso moneda corriente]]'' (everyday currency) (''$m/c'') was also introduced in 1826. It started at par with the peso fuerte, but depreciated with time. Although the Argentine Confederation issued 1-, 2- and 4-''centavo'' coins in 1854, with 100 ''centavos'' equal to 1 peso = 8 [[Argentine real|reales]], Argentina did not decimalize until 1881. The ''[[Argentine peso moneda nacional|peso moneda nacional]]'' (''m$n'' or ''$m/n'') replaced the earlier currencies at the rate of 1 peso moneda nacional = 8 [[Argentine real|reales]] = 1 peso fuerte = 25 [[Argentine peso moneda corriente|peso moneda corriente]]. Initially, one peso moneda nacional coin was made of silver and known as patacón. However, the 1890 economic crisis ensured that no further silver coins were issued. ===Gold and silver pesos, 1881–1970===<!--Linked from Japanese yen--> The Argentine gold coin from 1875 was the gold peso fuerte, one and two-thirds of a gram of gold of fineness 900, equivalent to one and a half grams of fine gold, defined by Law no. 733 of 1875. This unit was based on that recommended by the European Congress of Economists in Paris in 1867 and adopted by Japan in 1873 (the Argentine 5 peso fuerte coin was equivalent to the Japanese 5 [[Japanese yen|yen]]). However, these provisions were not implemented.<ref name=minthistory>{{Cite web|url=https://www.todo-argentina.net/historia/hist_moneda/moneda11.htm|title=HISTORIA DE LA MONEDA METALICA ARGENTINA|website=www.todo-argentina.net}}</ref> The system before 1881 has been described as "monetary anarchism" (''anarquía monetaria'').<ref name=minthistory/> Law no. 1130 of 1881 put an end to this; it established the monetary unit as the ''peso oro sellado'' ("stamped gold peso"), a coin of {{val|1.612|ul=g}} of gold of [[Millesimal fineness|fineness]] 900 (90%), and the silver peso, {{val|25|ul=g}} of silver of fineness 900.<ref name=minthistory/> Gold coins of 5 and 2.5 pesos were to be used, silver coins of one peso and 50, 20, 10 and 5 centavos, and copper coins of 2 and 1 centavos. ===Peso moneda nacional, 1881–1970<span class="anchor" id="ARM"></span>=== {{main|Argentine peso moneda nacional}} [[File:Argentina-1891-Bill-0.05-Obverse.png|thumb|5 cents ''moneda nacional'' banknote featuring Nicolás Avellaneda, 1891]] The depreciated ''peso moneda corriente'' was replaced in 1881 by the paper peso ''moneda nacional'' (national currency, (''m$n'' or ''$m/n'')) at a rate of 25 to 1. This currency was used from 1881 until January 1, 1970.<ref>[http://www.billetesargentinos.com.ar/es_index.htm Billetesargentinos.com.ar] {{webarchive|url=https://web.archive.org/web/20121129091157/https://www.billetesargentinos.com.ar/es_index.htm |date=2012-11-29 }} {{in lang|es}}, [http://www.billetesargentinos.com.ar/en_index.htm Billegesgarentinos.com.ar] {{in lang|en}} Billetes argentinos site. Spanish version is more detailed.</ref> The design was changed in 1899 and, again, in 1942. Initially the peso m$n was convertible, with a value of one ''peso oro sellado''. Convertibility was maintained off and on, with decreasing value in gold, until it was finally abandoned in 1929, when m$n 2.2727 was equivalent to one peso oro. ===Peso ley, 1970–1983<span class="anchor" id="ARL"></span>=== {{main|Argentine peso ley}} The ''peso ley 18.188'' ([[ISO 4217]]: '''ARL''') (informally called the ''[[Argentine peso ley|peso ley]]'') replaced the previous currency at a rate of 1 peso ley to 100 pesos moneda nacional. ===Peso argentino, 1983–1985<span class="anchor" id="ARP"></span>=== {{main|Argentine peso (1983–1985)}} The ''[[Argentine peso argentino|peso argentino]]'' (''$a'') ([[ISO 4217]]: '''ARP''') replaced the previous currency at a rate of 1 peso argentino to 10,000 pesos ley (1 million pesos m$n). The currency was born just before the return of democracy, on June 1, 1983. However, it rapidly lost its purchasing power and was devalued several times, and was replaced by a new currency called the [[Argentine austral|austral]] in June 1985. ===Austral, 1985–1991<span class="anchor" id="ARA"></span>=== {{main|Argentine austral}} The ''[[Argentine austral|austral]]'' ("₳") ([[ISO 4217]]: '''ARA''') replaced the [[peso argentino]] at a rate of 1 austral to 1,000 pesos (one billion pesos m$n). During the period of circulation of the austral, Argentina suffered from [[hyperinflation]]. The last months of President [[Raul Alfonsín]]'s period in office in 1989 saw prices increase constantly (200% in July alone), reflected in a worsening exchange rate. Emergency notes of 10,000, 50,000 and 500,000 australes were issued, and provincial administrations issued their own currency for the first time in decades. The value of the currency stabilized two years after President [[Carlos Menem]] was elected. ===Peso convertible, since 1992<span class="anchor" id="ARS"></span>=== In 1992 a new peso ([[ISO 4217]]: '''ARS''') was introduced, referred to as ''peso convertible'' since the international [[exchange rate]] was [[fixed exchange rate|fixed]] by the [[Banco Central de la República Argentina|Central Bank]] at 1 peso to 1 [[U.S. dollar]], and for every ''peso convertible'' [[monetary base|circulating]], there was a US dollar in the Central Bank's [[reserve currency|foreign currency reserves]]. It replaced the austral at a rate of 1 peso = 10,000 australes. After the various changes of currency and dropping of zeros, one peso convertible of 1992 was equivalent to 10 trillion pesos moneda nacional of 1970. After the [[1998–2002 Argentine great depression|financial crisis of 2001]], the fixed exchange rate system was abandoned in January 2002, and the exchange rate fluctuated, up to a peak of four pesos to one dollar (a 75% [[devaluation]]) at the time. The resulting [[export]] boom produced a massive inflow of dollars into the Argentine economy, which helped lower their price. For a time the administration stated and maintained a strategy of keeping the exchange rate at between 2.90 and 3.10 pesos per US dollar, in order to maintain the competitiveness of exports and encourage [[import substitution]] by local industries. When necessary, the Central Bank issues pesos and buys dollars in the free market (sometimes large amounts, of the [[Order of magnitude|order]] of 10 to {{US$|100 million}} per day) to keep the dollar price from dropping, and had amassed over {{US$|27 billion}} in reserves before the {{US$|9.81 billion}} payment to the [[International Monetary Fund]] in January 2006. The effect of this may be compared to the neighboring [[Brazilian real]], which was roughly on par with the Argentine peso until the beginning of 2003, when both currencies were about three per U.S. dollar. The ''real'' started gaining in value more than the peso due to Brazil's slower build-up of dollar reserves; by 29 December 2009, a ''real'' was worth almost 2.2 pesos.<ref>{{Cite web|url=https://www.google.com/finance/quote/BRL-ARS|title=BRL/ARS Currency Exchange Rate & News - Google Finance|website=www.google.com}}</ref> In December 2015, [[Argentine currency controls (2011–2015)|US dollar exchange restrictions]] were removed in Argentina following the election of President [[Mauricio Macri]]. As a result, the difference between the official rate and the [[Parallel exchange rate|unofficial "blue" rate]] almost disappeared for a time. The official exchange rate was on 1 April 2016 of 14.4 to {{US$|1}}.<ref>{{Cite web|title=USDARS:CUR USD-ARS X-RATE|url=https://www.bloomberg.com/quote/USDARS:CUR|url-status=live|website=www.bloomberg.com|archive-url=https://web.archive.org/web/20120201082306/http://www.bloomberg.com:80/quote/USDARS:CUR |archive-date=2012-02-01 }}</ref> The rate gradually worsened; on 29 July 2022 one U.S. dollar was quoted at 131.22 pesos at the official rate and 298 pesos, 2.27 times higher (+127%), in unregulated markets.<ref> {{cite web |url=https://www.lanacion.com.ar/economia/dolar/dolar-hoy-el-riesgo-pais-perfora-la-barrera-de-los-2500-puntos-nid29072022/ |title=Dólar hoy: el blue y los financieros caen por debajo de los $300 |last=Reinhold |first=Melisa |date=July 29, 2022 |website= |publisher=La Nación |access-date=July 29, 2022 |language=es |trans-title=Dollar today: The 'blue' and financials drop below $300 }} [https://www.lanacion.com.ar/dolar-hoy/ Current rate Web page] </ref> By September 2023, the official exchange rate had reached 350 pesos to the dollar, and over 720 pesos on unregulated markets.<ref> {{cite web |url=https://www.lanacion.com.ar/economia/dolar-hoy-dolar-blue-hoy-a-cuanto-cotiza-este-sabado-16-de-septiembre-nid16092023/ |title=Dólar hoy, dólar blue hoy: a cuánto cotiza este sábado 16 de septiembre |website=lanacion.com.ar |date=2023-09-16 |access-date=2023-09-17}} </ref> In 12 December 2023, following the election of president [[Javier Milei]], economy minister [[Luis Caputo]] changed the official exchange rate to 800 pesos to the dollar from the previous 366.5, a devaluation of 54%, to be followed by a monthly devaluation target of 2%.<ref>{{cite news |last1=Sweney |first1=Mark |title=Argentina's new government devalues peso by more than 50% |url=https://www.theguardian.com/world/2023/dec/13/argentina-new-government-devalues-peso-economic-crisis |access-date=24 January 2024 |work=The Guardian |date=13 December 2023 |archive-url=https://web.archive.org/web/20231221033608/https://www.theguardian.com/world/2023/dec/13/argentina-new-government-devalues-peso-economic-crisis |archive-date=21 December 2023}}</ref> At the time, the unofficial exchange rate was around 1000 pesos per dollar.<ref>{{cite web |title=Cotización de Dólar Blue - El Cronista |url=https://www.cronista.com/MercadosOnline/moneda.html?id=ARSB |website=El Cronista}}</ref> ==Coins== In 1992, 1, 5, 10, 25 and 50 centavo coins were introduced, followed by 1 peso in 1994. Two-peso coins were introduced in 2010. One-centavo coins were last [[Mint (facility)|minted]] in 2001. In 2017 a new series of coins was issued in denominations of {{val|p=$|1}} and {{val|p=$|5}}, followed by {{val|p=$|2}} and {{val|p=$|10}} in 2018.<ref>{{Cite press release|title=Se pondrán en circulación billetes de mayor denominación|language=es|trans-title=Larger-value banknotes to be put into circulation|url=http://www.bcra.gob.ar/Pdfs/Prensa_comunicacion/Nota_de_Prensa_15-01-16.pdf|url-status=live|date=January 15, 2016|website=bcra.gob.ar|archive-url=https://web.archive.org/web/20160206075302/http://www.bcra.gob.ar/Pdfs/Prensa_comunicacion/Nota_de_Prensa_15-01-16.pdf |archive-date=2016-02-06 }}</ref> Currently the Central Bank has told they still legal tender, but they’re not accepted on stores and banks branches due to the negligible value and inconvenience in storage. {| class="wikitable" |+ ''Circulating coins of the Argentine peso (1st series)'' ! Value ! Obverse / reverse ! Ref |- | 1 centavo || Laurel wreath and<br> legend ''"in union and liberty"'' || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-88a&desc=Argentina%20km113a%201%20Centavo%20(1993-2000)%20bronze&query=Argentina Argentina 1 centavo]</ref> |- | 5 centavos || [[Sun of May]] || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img17&image=7-109&desc=Argentina%20km109%205%20Centavos%20brass%20(1992--)%20brass&query=Argentina Argentina 5 centavos]</ref> |- | 10 centavos || [[Coat of arms of Argentina|Argentine coat]] || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-82&desc=Argentina%20km107%2010%20Centavos%20(1992--)&query=Argentina Argentina 10 centavos]</ref> |- | 25 centavos || [[Cabildo of Buenos Aires]] || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-85a_3&desc=Argentina%20km135a%2025%20Centavos%20(1996--)&query=Argentina Argentina 25 centavos]</ref> |- | 50 centavos || [[Casa de Tucumán]] || <ref>[http://worldcoingallery.com/countries/display.php?image=img7/7-86&desc=Argentina%20km111.2%2050%20Centavos%20(1993--)%20bold%20lettering&query=Argentina Argentina 50 centavos]</ref> |- | 1 peso || Argentine coat /<br>Sun of May || <ref>[http://worldcoingallery.com/countries/display.php?image=img7/7-87&desc=Argentina%20km112.1%201%20Peso%20(1994--)&query=Argentina Argentina 1 peso]</ref> |- | 2 pesos || Sun of May|| <ref>[http://colnect.com/en/coins/coin/28547-2_Pesos-1992~Today_-_Peso_Convertible_Until_2001-Argentina Argentina 2 pesos]</ref> |} {| class="wikitable" |+ ''Circulating coins of the Argentine peso (2nd series)'' ! Value ! Obverse ! Reverse ! Ref. |- | 1 peso || [[Jacaranda]] || [[Erythrina crista-galli|Ceibo]] || <ref>[https://en.numista.com/catalogue/pieces131212.html Argentina 1 peso (from 2017)]</ref> |- | 2 pesos || [[Ceiba speciosa|''Palo Borracho'']] || Ceibo || <ref>[https://en.numista.com/catalogue/pieces155294.html Argentina 2 pesos (from 2018)]</ref> |- | 5 pesos || [[Luma apiculata|Arrayán]] || Ceibo || <ref>[https://en.numista.com/catalogue/pieces131213.html Argentina 5 pesos (from 2017)]</ref> |- | 10 pesos || [[Prosopis caldenia|Caldén]] || Ceibo || <ref>[https://en.numista.com/catalogue/pieces155297.html Argentina 10 pesos (from 2018)]</ref> |} ===Commemorative coins=== Commemorating the [[1994 reform of the Argentine Constitution|National Constitutional Convention]], 2 and 5-peso nickel coins were issued in 1994. {| class="wikitable" |+ ''Commemorative coins'' ! width=80px| Value ! Issued ! width=150px| Obverse ! width=150px| Reverse ! Conmemorates ! Ref |- | 50 cent. || 1996 || [[UNICEF]] logo || A girl holding a doll || 50th. anniversary of Unicef || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-94&desc=Argentina%20km119%2050%20Centavos%20(1996)%20UNICEF&query=Argentina 50 centavos (50th anniversary of UNICEF)]</ref> |- | 50 cent. || 1997 || || [[Eva Duarte]] || 50th anniversary of the death of Eva Perón and the attainment of voting rights by women || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-96&desc=Argentina%20km121%2050%20Centavos%20(1997)%20Eva%20Peron&query=Argentina 50 centavos (50th anniversary of the death of Eva Perón and the attainment of voting rights by women)]</ref> |- | 50 cent. || 1998 || || [[Mercosur]] logo || Establishment of Mercosur || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-99&desc=Argentina%20km124%2050%20Centavos%20(1998)%20Southern%20Cross&query=Argentina 50 centavos (The establishment of Mercosur)]</ref> |- | 50 cent. || 2000 || || [[Martín Miguel de Güemes]] || Death of Güemes || <ref>[http://worldcoingallery.com/countries/display.php?image=nmc8/7-129&desc=Argentina%20km129%2050%20Centavos%20(2000)%20General%20Güemes&query=Argentina 50 centavos (Death of General Martín Miguel de Güemes)]</ref> |- | 50 cent. || 2001 || || [[José de San Martín]] || Death of San Martín || <ref>[http://worldcoingallery.com/countries/display.php?image=nmc8/7-130&desc=Argentina%20km130%2050%20Centavos%20(2000)%20General%20San%20Martin&query=Argentina 50 centavos (Death of José de San Martín)]</ref> |- | 1 peso || 1996 || Unicef logo || A girl holding a doll || 50th. anniversary of Unicef || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-95&desc=Argentina%20km120%201%20Peso%20(1996)%20UNICEF&query=Argentina 1 peso (50th anniversary of UNICEF)]</ref> |- | 1 peso || 1997|| || [[Eva Duarte]] || 50th anniversary of the death of Eva Perón and the attainment of voting rights by women || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-97&desc=Argentina%20km122%201%20Peso%20(1997)%20Eva%20Peron&query=Argentina 1 peso (50th anniversary of the death of Eva Perón and the attainment of voting rights by women)]</ref> |- | 1 peso || 1998 || || Mercosur logo || Establishment of Mercosur || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-100&desc=Argentina%20km125%201%20Peso%20(1998)%20Mercosur&query=Argentina 1 peso (The establishment of Mercosur)]</ref> |- | 1 peso || 2001 || [[San José palace]] || [[Justo José de Urquiza]] || Death of Gral. Urquiza || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img13&image=7-132&desc=Argentina%20km132.1%201%20Peso%20(2001)%20General%20Urquiza%20brass%20center&query=Argentina 1 peso (Death of General José de Urquiza)]</ref> |- | 2 pesos || 1994 || [[Constitution of Argentina|National Constitution]] || Argentine coats of arms || National Constitution Convention || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-89&desc=Argentina%20km114%202%20Pesos%20(1994)%20Nat.%20Constitution%20Convention&query=Argentina 2 peso (National Constitution Convention)]</ref> |- | 5 pesos || 1994 || National Constitution || Argentine coats of arms || National Constitution Convention || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img7&image=7-90&desc=Argentina%20km115%205%20Pesos%20(1994)%20Nat.%20Const.%20Convention&query=Argentina 5 peso (National Constitution Convention)]</ref> |- | 2 pesos || 2007 || [[Falkland Islands|Islas Malvinas]] || Argentine soldier || 25th. anniversary of the [[Falklands War|Malvinas War]] || <ref>[http://worldcoingallery.com/countries/display_wd.php?dir=img15&image=7-2p07&desc=Argentina%20km144.1%202%20Pesos%20(2007)%20Malvinas%20War%20-%20reeded%20edge&query=Argentina 2 pesos commemorating the Malvinas War]</ref> |} 2 peso coins were issued in 1999 to commemorate the centenary of the birth of writer [[Jorge Luis Borges]], with Borges portrayed on the obverse and a [[labyrinth]] and the [[Hebrew alphabet|Hebrew]] letter [[aleph (letter)|aleph]] on the reverse. On September 18, 2002, a 2-peso coin with [[Eva Perón]]'s face was introduced to commemorate the 50th anniversary of her death; this coin was to replace the AR$2 banknote if [[inflation]] continued to be high. None of the 2-peso coins are widely circulated. Some other 50-centavo and 1-peso coins commemorate different events, including the 50th anniversary of the creation of [[UNICEF]] (1996); the [[Women's suffrage#Timeline of international women's suffrage|attainment of voting rights by women]] (1997); the establishment of [[Mercosur]] (1998); and the death of [[José de San Martín]] (2001). Several 1 peso coins were issued in 2010 to commemorate the bicentennial of the [[May Revolution]], all featuring the same obverse, different from the main series, and images of different places on the reverse, including [[Mar del Plata]], the [[Perito Moreno Glacier]], [[Aconcagua|Mount Aconcagua]], the [[Pucará de Tilcara]], and [[El Palmar National Park|El Palmar]]. ==Banknotes== In 1992, banknotes were introduced in denominations of 1, 2, 5, 10, 20, 50, and 100&nbsp;pesos. The 1-peso note was replaced by a coin in 1994. Until 2001 banknotes bore the legend "Convertibles de curso legal", meaning that their value was fixed to the same amount in US dollars. As most older bills have been replaced, it is rare to find ones marked as convertible except in the $100 denominations. All bills are 155 × 65&nbsp;mm in size.<ref>{{cite web|last=Banco Central de la República Argentina|title=Notes|url=http://www.bcra.gov.ar/bilmon/bm000000_i.asp|publisher=Banco Central de la República Argentina|access-date=25 June 2013}}</ref> {|class="wikitable" style="font-size: 90%" |- !rowspan="2"| Value !!rowspan="2"| Color !! colspan="3" | Description !!rowspan="2"| Issue |- ! Obverse !! Reverse !! Watermark |- | $2 | Blue | [[Bartolomé Mitre]]; replica of a handwritten manuscript of ''[[Historia de Belgrano y de la Independencia Argentina]]'' and ''contrapuerta'' of his house | [[Museo Mitre]] | Bartolomé Mitre and his initials | 26 November 1997 - 30 April 2018 |- | $5 | Green | [[José de San Martín]]; replica of his will and reproduction of ''[[:File:Abrazo de Maipú Pedro Subercaseaux.jpg|Abrazo de Maipú]]'', painting by [[Pedro Subercaseaux]] depicting the hug shared by San Martín and [[Bernardo O'Higgins]] that sealed Chile's independence | Monument to the [[Army of the Andes]], [[Cerro de la Gloria]]; [[Order of the Liberator General San Martín]] medal | José de San Martín and his initials | 22 June 1998 - 29 February 2020 |- | $5 | Green | [[José de San Martín]] and the [[Order of the Liberator General San Martín|Order of the Liberator]] | [[José Artigas]], [[Simón Bolívar]], [[José de San Martín]], and [[Bernardo O'Higgins]] | José de San Martín and his initials | 1 October 2015 - 29 February 2020 |- | $10 | Brown | [[Manuel Belgrano]]; replica of an 1812 report by him to the government of the [[United Provinces of the Río de la Plata]] and reproduction of ''[[:File:Monumento a la Bandera, Rosario, Argentina. Estatua que representa La Patria en la Proa de la Nave simbólica..jpg|La Patria Abanderada]]'' by [[Alfredo Bigatti]] at the National Flag Memorial | [[National Flag Memorial (Argentina)|National Flag Memorial]]; [[drum]] —in remembrance of [[Drummer boy (military)|drummer boy]] Pedro Ríos who died at the [[Battle of Tacuarí]]— and typical [[textile]] [[pattern]] from the [[Argentine Northwest]] | Manuel Belgrano and his initials | 14 January 1999 |- | $10 | Brown, green, blue and purple | [[Manuel Belgrano]] | Juana Azurduy de Padilla and Manuel Belgrano on horseback with swords raised to the new flag on February 27, 1812, along the [[Paraná River]] | Manuel Belgrano and electrotype ''MB'' | 4 April 2016 |- | $20 | Red | [[Juan Manuel de Rosas]]; reproduction of ''[[:File:Prilidiano Pueyrredon - Retrato de Manuelita Rosas - Google Art Project.jpg|Retrato de Manuelita Rosas]]'' by [[Prilidiano Pueyrredón]], which depicts his daughter [[Manuela Rosas]] | [[Battle of Vuelta de Obligado]]; reproduction of the military trophies included in the 8 reales coin of 1840 | Juan Manuel de Rosas and his initials | 18 January 2000 |- | $50 | Black | [[Domingo Faustino Sarmiento]]; reproduction of a manuscript of ''Vida de Dominguito'', biography of his adopted son, who died at the [[Battle of Curupayty]] | [[Casa Rosada]]; motifs to his various activities: [[Buenos Aires Western Railway|''La Porteña'' locomotive]], [[Great European immigration wave to Argentina|European immigration]] and ''[[Facundo]]'' (1845), a cornerstone of Latin American literature |Domingo Faustino Sarmiento and his initials | 19 July 1999 |- | $50 | Blue | The [[Falkland Islands]], [[South Georgia Island|South Georgia]] and the [[South Sandwich Islands]] | [[Antonio Rivero]], the [[Argentine Military Cemetery]], light [[cruiser]] [[ARA General Belgrano|''General Belgrano'']], the Falkland Islands, and the [[dolphin gull]] | Falkland Islands and electrotype ''IM'' (for {{lang|es|Islas Malvinas}}) | 2 March 2015 |- | $100 | Violet | [[Julio Argentino Roca]], replica of a letter Roca sent to [[Miguel Cané]] (a diplomat), and evocation of Argentine progress under the sun of the future | [[Conquest of the Desert]] — The painting [[:File:La conquista del desierto.jpg|''La Conquista del Desierto'']] by [[Juan Manuel Blanes]]; evocation of Roca as a statesman and military man: handwritten sheets of paper, the saber and a laurel branch | Julio Argentino Roca and his initials | 3 December 1999 |- | $100 | Violet | [[Eva Perón]]; based on the design of a 5-peso banknote planned to be released following her 1952 death, but unreleased due to the coup that deposed President [[Juan Perón]] | From the [[Ara Pacis#Tellus panel|Ara Pacis]]: [[:File:Ara Pacis Tellus 05.jpg|a goddess]] with toddlers | Eva Perón and her initials | 20 September 2012 |} ===Fourth Series=== In 2016, the [[Banco Central de la República Argentina]] issued a new series of banknotes, with the 200- and 500-peso banknotes as the newest denominations. New 20- and 1,000-peso notes were issued in 2017, and new banknotes of 50 and 100 pesos were issued in 2018. A new series of coins in denominations of $1, $2, $5, and $10 was issued from 2018.<ref>{{Cite web|url=https://banknotenews.com/files/8e5821937f209c469577184749092ec2-4168.php/|title=BanknoteNews – Breaking news about world paper money. Powered by The Banknote Book.}}</ref><ref>{{Cite web|url=https://viapais.com.ar/cordoba/|title=Noticias de Córdoba hoy &#124; Noticias Córdoba|website=Vía País}}</ref><ref>{{cite web | title=$1000 BILL Rufous hornero | publisher=Banco Central de la República Argentina | date=1 December 2017 | url=https://www.bcra.gob.ar/Micrositios/Micrositio_billete_hornero-i.asp | language=en}}</ref> {|class="wikitable" style="font-size: 95%" |- !rowspan= 2 | Value !rowspan=2 | Color ! colspan="3" | Description !!rowspan=2| Issue |- ! Obverse !! Reverse !! Watermark |- | $20 | Red | [[Guanaco]] | [[Patagonian Desert]] | Guanaco and [[electrotype]] 20 | 3 October 2017 |- | $50 | Gray | [[Andean condor]] | [[Aconcagua]] | Andean condor and electrotype 50 | 15 August 2018 |- | $100 | Violet | [[Taruca]] | [[Sierra de Famatina]] | Taruca and electrotype 100 | 18 December 2018 |- | $200 | Blue | [[Southern right whale]] | [[Valdes Peninsula]] | Whale and electrotype 200 | 26 October 2016 |- | $500 | Green | [[Jaguar]] | [[Yungas]] | Jaguar and electrotype 500 | 29 June 2016 |- | $1,000 | Orange | [[Hornero]] | [[Pampas]] | Hornero and electrotype 1000 | 1 December 2017 |} ====5,000-peso design concept==== The design concept of a banknote of 5,000 pesos was shown on 16 May 2020.<ref>{{Cite news|title=Nuevo billete de $ 5000: cómo sería, cuándo saldría y por qué es polémico|url=https://www.cronista.com/finanzasmercados/Nuevo-billete-de--5000-como-seria-cuando-saldria-y-por-que-es-polemico-20200518-0015.html|date=2020-05-18|newspaper=El Cronista|language=es-ES}}</ref><ref name=bae>{{Cite news|title=¿Cuándo es la fecha de entrega del billete de 5000?|url=https://www.baenegocios.com/economia/El-billete-de-5000-ya-tiene-diseno-y-se-encuentra-en-produccion-20200516-0025.html|date=2020-05-16|newspaper=BAE Negocios|language=es}}</ref> The note was not issued, but the design was used for the $2,000 note announced in February 2023. ===Fifth Series=== In May 2022, the Banco Central de la República Argentina announced a new series of 100-, 200-, 500-, and 1,000-peso notes,<ref>{{cite web | url=https://banknotenews.com/?p=36546 | title=Argentina new 100-peso note (B423a) reported for introduction in Q4 2022 – BanknoteNews | date=24 May 2022 }}</ref><ref>{{cite web | url=https://banknotenews.com/?p=36542 | title=Argentina new 200-peso note (B424a) reported for introduction in Q4 2022 – BanknoteNews | date=24 May 2022 }}</ref><ref>{{cite web | url=https://banknotenews.com/?p=36538 | title=Argentina new 500-peso note (B425a) reported for introduction in Q4 2022 – BanknoteNews | date=24 May 2022 }}</ref><ref>{{cite web | url=https://banknotenews.com/?p=36534 | title=Argentina new 1,000-peso note (B426a) reported for introduction in Q4 2022 – BanknoteNews | date=24 May 2022 }}</ref><ref>{{cite web | url=https://www.argentina.gob.ar/noticias/heroinas-y-heroes-de-nuestra-historia-vuelven-ilustrar-los-billetes-de-pesos-argentinos | title=Heroínas y héroes de nuestra historia vuelven a ilustrar los billetes de pesos argentinos | date=24 May 2022 }}</ref> replacing the animal motifs of the 2016 series with pictures of Argentine historical figures and events while maintaining the color scheme, to be released within the following six months; however, no plans to put these designs into circulation have been made as of May 2023. In March 2023 a $2,000 note was issued, portraying the Instituto Malbrán and pioneering doctors [[Cecilia Grierson]] and [[Ramón Carrillo]].<ref>{{cite news| last=Mackintosh | first=Thomas | title=Argentina unveils new 2,000-peso banknote as inflation bites | website=BBC News | date=2 February 2023 | url=https://www.bbc.com/news/world-latin-america-64507085}}</ref><ref>{{Cite web |last=Costa |first=Lucy |date=2023-02-05 |title=Argentina lança cédula de 2 mil pesos devido inflação |url=https://investidoresbrasil.com.br/argentina-lanca-cedula-de-2mil-pesos-devido-inflacao-cedula-equivale-a-us-5/ |access-date=2023-03-10 |website=Investidores Brasil - Juntos Podemos Mais |language=pt-BR}}</ref> It does not have a [[security thread]], and uses the design and plates originally intended for the $5,000 note described in May 2020.<ref name=efron>{{cite web | last=Efron | first=Arnoldo | title=Argentina - Additional details about the planned 2,000 pesos banknote. | website=MRI Guide | date=17 February 2023 | url=https://mriguide.com/argentina-additional-details-about-the-planned-2000-pesos-banknote/}}</ref> The new $2,000 note was put into circulation on 22 May 2023.<ref>{{cite web |url=https://www.infobae.com/economia/2023/05/22/empieza-a-circular-el-nuevo-billete-de-2000-pesos/ |title=Empieza a circular el nuevo billete de 2.000 pesos |date=22 May 2023 |accessdate=22 May 2023 |language=es |website=Infobae }}</ref> On 11 January 2024, the Central Bank announced that it would issue 10,000-peso and 20,000-peso notes by June 2024. The design that was for the 500-peso note will be used for the 10,000-peso instead.<ref>{{cite news |last1=Simauchi |first1=Kevin |title=Argentina to Issue 20,000 Peso Bills as Inflation Eclipses 211% |url=https://www.bloomberg.com/news/articles/2024-01-12/argentina-to-issue-20-000-peso-bills-as-inflation-eclipses-211 |access-date=12 January 2024 |work=Bloomberg |date= 12 January 2024 |archive-url=https://web.archive.org/web/20240112044325/https://www.bloomberg.com/news/articles/2024-01-12/argentina-to-issue-20-000-peso-bills-as-inflation-eclipses-211 |archive-date=12 January 2024}}</ref><ref>{{Cite news |date=13 January 2024 |title=Argentina to issue larger-denomination banknotes |url=https://en.mercopress.com/2024/01/13/argentina-to-issue-larger-denomination-banknotes |archive-url=https://web.archive.org/web/20240124202951/https://en.mercopress.com/2024/01/13/argentina-to-issue-larger-denomination-banknotes |archive-date=24 January 2024 |access-date=13 February 2024}}</ref> Current situation is the most used banknotes are 1,000-peso, 2,000-peso, and 10,000 peso. Due to the high inflation 10-peso, 20-peso and 50-peso banknotes are no longer used anymore and rarely 100-peso, 200-peso and 500-peso banknotes. Cancelled notes (planned but not issued): {|class="wikitable" style="font-size: 90%" |- !rowspan="2"| Value !rowspan="2"| Color ! colspan="2" | Description !rowspan="2"| Issue |- ! Obverse & watermark !! Reverse |- | $100 | Violet | [[Eva Perón]] | The extension of the right to vote to women in Argentina in 1947 | Cancelled |- | $200 | Blue | [[Martín Miguel de Güemes]] and [[Juana Azurduy]] | Gaucho war; soldiers on horseback | Cancelled |- | $500 | Green | [[Manuel Belgrano]] and [[María Remedios del Valle]] | Soldiers pledging allegiance to the [[flag of Argentina|Argentine flag]] in 1812 | Cancelled |- |} Current notes: {|class="wikitable" style="font-size: 90%" |- !rowspan="2"| Value !rowspan="2"| Color ! colspan="2" | Description !rowspan="2"| Issue |- ! Obverse & watermark !! Reverse |- | $1,000 | Orange | [[José de San Martín]] | [[Crossing of the Andes]] | May 2022 |- | $2,000 | Red/Gray | [[Ramón Carrillo]] and [[Cecilia Grierson]] | [[Malbrán Institute|Carlos Malbrán National Institute of Microbiology]] | May 2023 |- | $10,000 | Cyan | [[Manuel Belgrano]] and [[María Remedios del Valle]] | Soldiers pledging allegiance to the [[flag of Argentina|Argentine flag]] in 1812 | May 2024 |- | $20,000 | Red | [[Juan Bautista Alberdi]] | TBA | Oct 2024 |- |} ==Exchange rates== At the end of 2011, exchange control measures were implemented, which managed to reduce capital flight by 85%. One consequence of these measures was the appearance of multiple exchange rates and a parallel market (colloquially called the "blue dollar"), which was accessed by individuals and companies. Special official exchange rates are sometimes created and abolished, to support sectors of the economy. There has been a "soybean dollar", a special rate for soybean exports, that was applicable between 5 and 30 September 2022,<ref>{{cite news |title=Argentina creates "soybean dollar" to boost Central Bank reserves |url=https://en.mercopress.com/2022/09/05/argentina-creates-soybean-dollar-to-boost-central-bank-reserves |access-date=12 January 2024 |work=MercoPress |date=5 September 2022 |archive-url=https://web.archive.org/web/20240112055837/https://en.mercopress.com/2022/09/05/argentina-creates-soybean-dollar-to-boost-central-bank-reserves |archive-date=12 January 2024}}</ref> between 20 November and 30 December 2022,<ref>{{cite web | title=Argentina to create yet another dollar exchange rate | website=MercoPress | date=8 November 2022 | url=https://en.mercopress.com/2022/11/08/argentina-to-create-yet-another-dollar-exchange-rate}}</ref> again between 8 April and 31 May 2023,<ref>{{cite news |last1=Pandey |first1=Samyak |last2=Gomes |first2=Jose |title=Argentina unveils third 'soybean dollar' program to boost farmer sales |url=https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/agriculture/040523-argentina-unveils-third-soybean-dollar-program-to-boost-farmer-sales |access-date=12 January 2024 |work=S&P Global |date=5 April 2023 |archive-url=https://web.archive.org/web/20240112052933/https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/agriculture/040523-argentina-unveils-third-soybean-dollar-program-to-boost-farmer-sales |archive-date=12 January 2024}}</ref> and again from 5 September to 25 October 2023.<ref>{{cite news |title=Argentinian Soybean Market Update: crush capacity and soy dollar |url=https://www.mintecglobal.com/top-stories/argentinian-soybean-market-update-crush-capacity-and-soy-dollar |access-date=12 January 2024 |work=Mintec |date=6 October 2023 |archive-url=https://web.archive.org/web/20240112054736/https://www.mintecglobal.com/top-stories/argentinian-soybean-market-update-crush-capacity-and-soy-dollar |archive-date=12 January 2024}}</ref> A "corn dollar" for corn exports existed between 25 July and 31 August 2023.<ref>{{cite news |last1=Pandey |first1=Samyak |last2=Carvalho |first2=Victor |last3=Prakash |first3=Shivam |title=Argentina introduces corn dollar exchange campaign to ramp up foreign reserve |url=https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/agriculture/072523-argentina-introduces-corn-dollar-exchange-campaign-to-ramp-up-foreign-reserve |access-date=12 January 2024 |work=S&P Global |date=25 July 2023 |archive-url=https://web.archive.org/web/20240112061914/https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/agriculture/072523-argentina-introduces-corn-dollar-exchange-campaign-to-ramp-up-foreign-reserve |archive-date=12 January 2024}}</ref> On 4 November 2022 a "foreign tourist dollar" rate close to the black market rate (355 pesos to the dollar instead of the official 195 at the end of February 2023) was introduced, for purchases made with foreign [[payment card]]s. This was to encourage people to visit the country while discouraging them from using the currency black market. Tourist dollars spent in January 2023 were nearly five times as many as in January 2022.<ref>{{cite news| last=Iglesia | first=Facundo | title=Tourist dollar quintuples foreign spending in January | newspaper=Buenos Aires Herald | date=28 February 2023 | url=https://buenosairesherald.com/economics/tourist-dollar-quintuples-foreign-spending-in-january}}</ref> The following table, always up-to-date, lists current official interbank rates; the parallel rate values the peso significantly lower. {{Exchange rate|ARS|BRL|UYU}} Constantly updated link to URL with current parallel ("blue") exchange rate: {{cite web | title=US Dollar (USD) - Argentine Peso (parallel 'Dollar Blue' rate) (ARS_PA) | website=CUEX | url=https://cuex.com/en/usd-ars_pa}} ==See also== * [[Casa de Moneda de la República Argentina]] – Argentine mint * [[Economy of Argentina]] * [[Historical exchange rates of Argentine currency]] ==References== {{reflist}} {{Refbegin}} * {{numis cite SCWC | date=1991}} * {{numis cite SCWPM | date=1994}} {{Refend}} ==Further reading== * Cunietti-Ferrando, Arnaldo J.: Monedas de la Republica Argentina desde 1813 a nuestros Dias. Cooke & Compañia. Editores Numismaticos, Buenos Aires, 1978. * Cunietti-Ferrando, Arnaldo J.: Monedas y Medallas. Cuatro siglos de historia y Arte. Coins and Medals. Four centuries of history and art. Manrique Zago ediciones, Buenos Aires, 1989. * Janson, Hector Carlos: La Moneda Circulante En El Territorio Argentino 1767–1998. Buenos Aires, 1998. ==External links== {{commons cat}} * {{in lang|es}} [http://www.bcra.gov.ar/SistemasFinancierosYdePagos/Emisiones_vigentes.asp Current legal tender banknotes and coins of the Argentine Republic] (not up to date) * [http://www.bis-ans-ende-der-welt.net/Argentinien-B-En.htm Banknotes of Argentina 1992–2011] * {{in lang|es}} [http://www.billetesargentinos.com.ar/ Argentine Notes; site has Spanish and English versions, more detail in Spanish] * [https://web.archive.org/web/20160313073022/http://bankinginfo.org/central_bank/argentina.htm Argentina Banking Info] * [http://colnect.com/coins/list/country/906 Images of historic and modern Argentine coins] * [http://www.ciscoins.net/america/enargentina.htm Coins of Argentina, online catalog] * {{in lang|es}} [http://www.hoydolar.com Cotización del dólar en Argentina] * {{in lang|es}} [http://www.ambito.com/economia/mercados/monedas/dolar/ Dólar Oficial, Informal, BCRA de Referencia, Banco Nación, Mayorista Bancos - Ambito.com] * [http://ars.currencyrate.today Argentine Peso ARS exchange rates today] * [https://www.fxrateslive.com/ARS/USD/1 ARS to USD exchange rates] * {{in lang|es}} [https://diariodolar.com Seguimiento del dólar y divisas en la República Argentina] * [https://usd.currencyrate.today/ars US dollar/peso exchange rates, official and parallel] {{Historical currencies of Argentina}} {{Economy of Argentina}} {{Peso}} {{Currencies of the Americas}} {{Portal bar|Argentina|Money|Numismatics|South America}} {{DEFAULTSORT:Argentine Peso}} [[Category:Economy of Argentina]] [[Category:Currencies of Argentina]] [[Category:Currencies with multiple banknote issuers]] [[Category:1826 introductions]] [[Category:1826 establishments in Argentina]]'