peso (defined as peso convertible ) is the Argentine currency, identified by the $ symbol that precedes the amount in the same way as many countries use dollar currency. It is divided into 100 centavos . The ISO 4217 code is ARS .
Since the late 20th century, the Argentine peso has experienced a considerable devaluation rate, reaching 25% by 2017. The official exchange rate for the US dollar is around 3: 1 from 2002 to 2008, rising to 6: 1 between 2009 and 2013. In January 2018, tariffs rose to 20: 1.
Video Argentine peso
Histori
The previous peso number is sometimes preceded by the "$" sign and sometimes, especially in formal use, with a symbol identifying that it is a particular currency, for example $ m/n100 or m $ n100 for pesos moneda nacional. The peso introduced in 1992 is called peso (until 2002 peso convertible ), and written preceded by the "$" sign only. The previous peso replaced the so-called peso, and sometimes two peso varieties coexisted, so it was necessary to have a clear term to use, at least in transition; 1992 peso replaced the currency with a different name, austral .
Pesos before 1826
The peso is a name that is often used for Spanish eight-silver silver coins. After independence, Argentina began issuing its own coins, in original form, soles and escudos, including silver coins (or soles) of silver which are still known as pesos. These coins, together with those from neighboring countries, circulated until 1881.
Peso fuerte, 1826-1881
In 1826, two banknote issues began, in the form of pesos. One, peso fuerte ( $ F ) (ISO 4217: ARF ) is the currency that can be converted, with 17 pesos fuertes equal to one ounce Spain (27,0643 g) 0.916 pure gold. It was replaced by the peso moneda nacional at par in 1881.
peso moneda corriente, 1826-1881
The non-conversion of peso moneda corriente (daily currency) ( $ m/c ) was also introduced in 1826. It started parallel to the peso fuerte, but depreciated as it progressed time.
Although the Argentine Confederation issued 1-0, 2 and 4 centavo coins in 1854, with 100 centavos equivalent to 1 peso = 8 reales, Argentina did not elaborate until 1881. The < i> peso moneda nacional or m/n ) replaces the previous currency at the rate of 1 peso moneda nacional = 8 reales = 1 peso fuerte = 25 pesos moneda corriente. Initially, a monaco nacional coin peso made of silver and known as patacÃÆ'³n. However, the economic crisis of 1890 ensured that no further silver coins were issued. At the beginning of the 20th century, the Argentine peso was one of the most heavily traded currencies in the world.
Gold and silver peso, 1881-1970
The Argentine gold coin of 1875 is a gold fuerte peso, one and two thirds of a gram of 900 fine gold, equivalent to one and a half grams of pure gold, defined by law 733 of 1875. This unit is based on a recommendation by the European Economist Congress in Paris in the year 1867 and adopted by Japan in 1873 (Argentine 5 peso Fuerte coin equivalent to Japan 5 yen).
The monetary system before 1881 has been described as "anarchist" ( anarquÃÆ'a monetaria ). Law 1130 of 1881 concludes this; it assigns monetary units as peso oro sellado ("golden capo peso", ISO 4217: ARG ), coins of 1,612 grams of 900 fine gold (90%), and silver pesos , 25 grams of silver fineness 900. Gold coins 5 and 2.5 pesos will be used, silver coins one peso and 50, 20, 10 and 5 centavos, and 2 copper coins and 1 centavos.
Peso moneda nacional, 1881-1970
The depreciated peso moneda corriente was replaced in 1881 by the pesos moneda nacional paper (national currency, ( m $ n or $ m/n ), ISO 4217: ARM ) at levels 25 through 1. This currency was used from 1881 to 1 January 1970 The design was changed in 1899 and again in 1942.
Initially peso m $ n is convertible, with a value of one peso oro sellado. Convertibility was maintained and continued, with a decline in the value of gold, until it was abandoned in 1929, when $ 2.2727 was equivalent to one peso oro.
Peso ley, 1970-1983
The peso ley 18 188 (ISO 4217: ARL ) (informally called peso ley ) replaced the previous currency at a rate of 1 peso ley to 100 pesos moneda nacional.
Peso argentino, 1983-1985
The peso argentino $ a (ISO 4217: ARP ) replaces the previous currency at level 1 peso argentino up to 10,000 pesos (1 million peso m $ n). The currency was born just before the return of democracy, on June 1, 1983. However, it quickly lost its purchasing power and was devalued several times, and replaced by a new currency called austral in June 1985. Australians, 1985-1991 Austral, 1985-1991
The austral ("?") (ISO 4217: ARA ) replaces the argentino peso with austral tariff up to 1000 pesos (one billion pesos m $ n). During the austral circulation period, Argentina suffers from hyperinflation. The last months of President Raul Alfonsen's office in 1989 saw prices go up steadily (200% in July alone), with the consequence of declining currency values. Emergency records of 10,000, 50,000 and 500,000 australes are issued, and the provincial government publishes their own currency for the first time in decades. The value of the currency stabilized as soon as President Carlos Menem was elected.
Convertible peso, from 1992 to now
The current peso (ISO 4217: ARS ) replaces austral at a rate of 1 peso = 10,000 australes (ten trillion pesos m $ n). This is also referred to as peso convertible because the international exchange rate is set by the Central Bank of 1 peso to 1 US dollar and for every outstanding peso convertible , there is a US Dollar in the currency reserve foreign central bank. After various currency changes and zero fall, a convertible peso is equivalent to 10,000,000,000,000 (10 13 ) peso moneda nacional. However, after the financial crisis of 2001, the exchange rate system remains abandoned.
Since January 2002, the exchange rate fluctuated, reaching a peak of four pesos to a dollar (ie, 75% devaluation). The resulting export boom resulted in large dollar revenues into the Argentine economy, which helped lower their prices. For a while the government declared and maintained a strategy of maintaining exchange rates between 2.90 and 3.10 pesos per US dollar, in order to maintain export competitiveness and encourage import substitution by local industries. If necessary, the Central Bank issues a peso and buys dollars on the free market (sometimes in bulk, in order of 10 to 100 million dollars per day) to keep the dollar price down, and has raised more than $ 27 billion in reserves before payment of US $ 9.81 billion to the International Monetary Fund in January 2006.
This effect can be compared to the nearest Brazilian real, which is roughly equivalent to the Argentine peso until early 2003, when both currencies are around three per US dollar. The real start getting more value from pesos due to the slower pile of Brazilian dollar reserves; on December 29th, 2009, a real worth almost 2.2 pesos.
In December 2015, restrictions on US dollar exchanges were removed in Argentina after President Macri's election. As a result, the difference between the official level and the unofficial "blue" level almost disappears. The official exchange rate is on April 1, 2016, 14.4 to US $ 1. On November 10, 2017, it was 17.5.
Maps Argentine peso
Coins
In 1992, 1, 5, 10, 10, 25 and 50 cents coins were introduced, followed by 1 peso in 1994. Two peso coins for circulation were introduced in 2010. The 1-centavo coin was last printed in 2001.
By 2017, there are plans to issue new series of coins in the $ 1, $ 2, $ 5, and $ 10 denominations.
Warning coins
Commemorating the National Constitution Convention, 2-peso and 5-peso nickel coins were issued in 1994.
Some 2-peso coins were issued in 1999 to commemorate the centenary of the birth of world-renowned writer and poet Jorge Luis Borges; they have a picture of Borges's face on one side, and the labyrinth and Hebrew letters on the other. In addition, commemorating 50 years of the death of Eva PerÃÆ'³n, on September 18, 2002, a new 2-peso coin with his face was created. It is said that this coin will replace the old $ 2 bills if inflation continues to be high. None of the 2-peso coins are currently in wide circulation.
Some 50 and 1 pesos coins are there to commemorate different events, including the 50th anniversary of the creation of UNICEF (1996); voting achievement by women (1997); the establishment of Mercosur (1998); and the death of Josà © de San MartÃÆ'n (2001).
In 2010, commemorating the anniversary of the two centuries of the May Revolution, several 1-peso coins were issued, all featuring the same front, different from the main series, and images from different places on the contrary, such as Mar del Plata, Perito Moreno Glacier, Aconcagua mountain, PucarÃÆ'¡ de Tilcara, and El Palmar.
Problem changes
Small denominations and especially coins are sometimes hard to come by in Argentina, especially in Buenos Aires. The problem has progressed to a stage where some shopkeepers will not sell goods if a transaction involves giving buyers changes in coins. This has also been exacerbated by ATMs, which tend to provide only 100 pesos of notes, and by bus companies, some of which will only take coins in payments and sell them with a 5-10% markup on the black market rather than deposit it. at the bank. This situation has improved in the years following the economic crisis of Argentina (1999-2002). Currently almost every bus line in Buenos Aires has a SUBE (Systema ÃÆ'Å¡nico de Boleto ElectrÃÆ'³nico ; Unified Electronic Ticket System ) smart card reader, which allows passengers to pay electronically without coins.
Banknote
In 1992, paper money was introduced in denominations of 1, 2, 5, 10, 20, 50, and 100 pesos. The 1-peso note was replaced by coins in 1994. The pictures below are outdated, since they contain legends "Convertibles de curso legal" (meaning they are set at the same amount in US dollars). The new bill, printed since 2002, does not have this text. Since most of the bills have been replaced, it's rarely found that are marked as convertible except in big $ 100 denominations. All bills measuring 155 ÃÆ'â € "65Ã, mm.
Fourth Series
In 2016, Banco Central de la RepÃÆ'ºblica Argentina issued a new record series, with 200 and 500 pesos in denomination as the newest denomination. New 20-peso notes and 1000 pesos are issued in 2017, and new 50-peso and 100-peso and new coins of $ 1, $ 2, $ 5 and $ 10 will be issued in 2018.
Exchange rate
See also
- Casa de Moneda de la RepÃÆ'ºblica Argentina - Argentina mint
- Argentine Economy
- The historical exchange rate of Argentinian currency
References
Further reading
- Cunietti-Ferrando, Arnaldo J.: Monedas de la Republica Argentina desde 1813 a nuestros Dias. Cooke & amp; CompaÃÆ' Â ± heights. Editor of 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
- (in Spanish) Current soft auction coins and auction coins from the Argentine Republic
- Historic and Argentine banknotes today
- (in Spanish) An Argentine record; the site has Spanish and English versions, more details in Spanish
- Argentine Banking Info
- Argentine historic coin image and modern
- Argentine coins, online catalog
- (in Spanish) CotizaciÃÆ'³n del dÃÆ'³lar en Argentina
- (in Spanish) DÃÆ'³lar Oficial, Informal, BCRA de Referencia, Banco NaciÃÆ'³n, Mayor of Bancos - Ambito.com
- Argentine Peso today's Peso exchange rate
Source of the article : Wikipedia
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