Argentine peso
1 EUR = 10.9179 ARS 1 ARS = 0.09159 EUR
1 CHF = 8.9235 ARS 1 ARS = 0.11206 CHF
The Argentine Peso ( Spanish peso, weight ') since 1 January 1992, the currency of Argentina. 1 Peso is divided into 100 centavos (¢).
In circulation there are notes of 2, 5, 10, 20, 50 and 100 pesos, and coins of 1, 5, 10, 25, 50 centavos, 1 peso and 2 pesos. Previously, there were also one -peso bills, but are no longer valid today.
Earlier currencies of Argentina
The precursor of the peso ( ARS) were
- From 1822 to 1826 the real Argentino
- From 1826 to November 4, 1881, the peso Mondea Corrientes ( the paper money was called " peso fuertes ", from 3 January 1867 as the gold -linked currency)
- 5 November 1881 to 31 December 1969, the peso Moneda Nacional (100 pesos moneda nacional = 1 peso ley until 1896 as gold tied currency )
- From 1 January 1970 to 31 May 1983, the Peso Ley (ARL; 10,000 pesos = 1 peso ley Argentino )
- From 1 June 1983 to 14 June 1985, the Peso Argentino (ARP; 1,000 Pesos Argentinos = 1 Austral )
Decline in the value of the Argentine currency
The Argentine currency was devalued several times greatly and they alone four times since 1935 got a new name, with each 2 to 4 zeros were deleted. Was it the beginning of 1935 for a trillion Moneda Nacional still get 251.2 billion U.S. dollars, so you would have the beginning of 2005, the original Argentine currency would have been valid at that time, only get 3 U.S. cents for the same amount.
The value decline was not always equally strong. Particularly strong phases of the decline in value were ( closing date for the end of January of the given year ):
- The period 1948-1951 with annual depreciation -17 to -46 % against the U.S. dollar
- 1955/56, with a depreciation amounting to -65 %
- 1958/59 and to a lesser extent 1959/1960 with write-downs of -43 % and 21 %
- 1962/63 with depreciation amounting to -38 %
- 1965-1968 with devaluations -20 to -30 %
- 1971/72 with depreciation amounting to -58 %
- 1975/76 with a depreciation in the amount of 95%
- In the subsequent period 1976-1981 annual depreciation -18 to -54 %
- 1981-84 with annual depreciation charges of the -80 %
- 1984/85 with depreciation amounting to -88%
- 1985-1989 with annual depreciation -39 to -76 %
- And the year 1989/90, with the peak value of a devaluation within a year period amounting to -99 %!
- In the penultimate year period prior to the dollar exchange rate 1990/1991 an impairment loss of -75 %
- And one compared to the previous relatively slight depreciation in the amount of -25 % in the last year period before the dollar parity.
Between 1 April 1991 and 10 January 2002, the Argentine currency was bound by law to the U.S. dollar and there were only slight variations in the tenth of dollar range. The exchange rate was initially Austral 10,000 per dollar, and with the introduction of the new currency peso at 1 January 1992 a peso per dollar.
The Argentine crisis led in late 2001 collapse of the financial system. On 11 January 2002, the currency was devalued by 29% initially to 1.40 pesos per U.S. dollar, however, this rate could not be kept stable and so the currency was released on 31 January 2002. The currency fell to an exchange rate of 3.87 pesos per U.S. dollar, which they reached on 26 June 2002 (74% devaluation against 20 December 2001 ), but recovered to mid-2003 to a level of about 3 pesos per U.S. dollar. Then remained the currency, but also taught by the Argentine Central Bank interventions against a further appreciation, for several years stable (eg February 2009: USD 1.00 = 3.55 ARS ).
Since the spring of 2012, it is possible to buy only in exceptional cases in Argentina foreign currencies. The official exchange rate is in November 2013 one U.S. dollar about 5.90 pesos to the ubiquitous black market at this time are more than 9 pesos to get for one U.S. dollar.