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Argentine peso users
The Argentine peso is the currency of Argentina (officially the Argentine Republic) which is located in southern South America. Argentina is the eighth largest country in Latin America and also in the world.
The country name of Argentina was created on July 9, 1816, when its predecessor La Plata Province declared independence from Spain. The name was first formally used in 1826 as Argentine Republic and Argentine Nation.
Argentina is a member of the Union of South American Nations (referred to as UNASUR) which is an intergovernmental union and was established on December 8, 2004, consisting of twelve members and 2 observers (Mexico and Panama). The Union of South American Nations expects to model the European Union and introduce a common currency, possibly by 2019.
| "UNASUR" | Currency name | Code | 1USD= | 1EUR= | 1GBP= |
|---|---|---|---|---|---|
| Argentina | Argentine peso | ARS | 5.00599 | 6.68764 | 7.75558 |
| Bolivia | Bolivian boliviano | BOB | 6.90964 | 9.23015 | 10.7047 |
| Brazil | Brazilian real | BRL | 1.95928 | 2.61746 | 3.03543 |
| Chile | Chilean peso | CLP | 470.738 | 628.85 | 729.321 |
| Colombia | Colombian peso | COP | 1783.29 | 2382.35 | 2762.9 |
| Ecuador | United States dollar | USD | 1.00000 | 1.33592 | 1.54932 |
| Guyana | Guyanese dollar | GYD | 203.948 | 272.451 | 315.98 |
| Paraguay | Paraguayan guaraní | PYG | 4089.31 | 5462.93 | 6335.42 |
| Peru | Peruvian nuevo sol | PEN | 2.56899 | 3.43197 | 3.98019 |
| Suriname | Suriname dollar | SRD | 3.28713 | 4.39199 | 5.09252 |
| Uruguay | Uruguayan peso | UYU | 19.0398 | 25.4355 | 29.4978 |
| Venezuela | Venezuelan bolívar | VEF | 6.29375 | 8.40786 | 9.75069 |
| Panama | Panamanian balboa | PAB | 1.00000 | 1.33592 | 1.54932 |
| Mexico | Mexican peso | MXN | 12.6915 | 16.9561 | 10.6619 |
Notes:
1. The group expects to model the EU with a common currency by 2019.
2. Mexico and Panama are observers of the Union of South American Nations.
Argentine peso history
The Argentine peso was introduced in 1991 and replaced the Argentine austral (ARA) at 1 ARS = 10,000 ARA. The first currency of Argentina was introduced in 1813; previously only Spanish colonial reals circulated.
| Currency name | Code | Introduced since | (Being) used until | Notes |
|---|---|---|---|---|
| Argentine peso | ARS | December 31, 1991 | Present | Argentine peso replaced the Argentine austral at a rate of 1 ARS = 10,000 ARA in 1991. |
| Argentine austral | ARA | June 15, 1985 | December 31, 1991 | Argentine austral replaced the Argentine peso argentino at a rate of 1 ARA = 1000 ARP in 1985. |
| Argentine peso argentino | ARP | June 6, 1983 | June 14, 1985 | Argentine peso argentino replaced the Argentine peso ley at a rate of 1 ARP = 10,000 ARL. |
| Argentine peso ley | ARL | January 1, 1970 | May 5, 1983 | Argentine peso ley replaced the Argentine peso moneda nacional at a rate of 1 ARL = 100 ARM. |
| Argentine peso moneda nacional | ARM | November 5, 1881 | December 31, 1969 | Argentine peso moneda nacional replaced the Argentine real at a rate of 1 ARM = 8 Argentine real. |
| Argentine real | / | 1813 | November 5, 1881 | Argentina started issuing its own real coins since 1813 in the name of the "Rio de la Plata Province". |
| Argentine Peso fuerte | / | 1826 | 1881 | The peso fuerte was a convertible currency and was only introduced in paper money. It replaced the Spanish peso with 17 peso fuertes equaling one Spanish ounce (27.0643 g) of 0.916 fine gold and later was dropped to 16 pesos fuertes per Spanish gold ounce in 1864. The peso fuerte was replaced by Peso moneda nacional (ARM) at par in 1881. |
| Argentine Peso moneda corriente | / | 1826 | 1881 | The peso moneda corriente was a non-convertible currency and was only introduced in paper money. It was introduced at par with the Peso fuerte and replaced at 1 ARM = 25 peso monedas corrientes in 1881. |
| Spanish colonial reales | / | around 1527 | 1813 | Before 1813, Spanish colonial reals circulated alone in Argentina. |
Argentine peso coins and banknotes
The Argentine peso is subdivided into 100 centavos.
Currently, in circulation, coins are in denominations of 1, 5, 10, 25, 50 centavos, 1, 2 pesos, and banknotes are in denominations of 2, 5, 10, 20, 50, 100 pesos.
Argentine peso and the currency of peso
Peso was originally the name of the Spanish dollar (also known as the piece of eight or the eight-real coin) which was issued by Spain and minted in the Spanish Empire. Hence, Peso has been a monetary unit used by many countries which were former Spanish colonies.
Peso fuerte was the first paper money issued by Argentina and was introduced in 1826. It was pegged to the Peso with 17 pesos fuertes being equal to one Spanish ounce of gold. It was later replaced by the Argentine Peso moneda nacional in 1881 at par.