- peso convertible
The Argentine Peso is the official currency of Argentina. One Peso is worth 100 Centavos. Coins are distributed in 1, 5, 10, 25 and 50 Centavos as well as 1 and 2 Pesos. Banknotes come in 2, 5, 10, 20, 50 and 100 Pesos.
The first Argentine Peso dates back to when Argentina claimed independence in 1816. The currency was made up of Pesos, Reales, Soles and Escudos. One Peso was equal to 8 Reales. Peso banknotes were circulated in 1826 and these currencies were used until 1881. Then, in 1881 a new law was introduced which simplified the country’s currency system, making the Peso Oro Sellado (translated to "stamped gold peso") the official currency. The Peso Ley, Peso Argentino and Austral were introduced in 1970, 1983 and 1985 respectively. In 1992, today’s Argentine Peso was introduced to replace the Austral. One Peso was worth 10000 Australes. The exchange rate was initially fixed at one Peso to one US Dollar but that ceased in 2002 and the currency devalued greatly over the years reaching 8 Pesos to one US Dollar in 2014.
- centavo (100)
- Central Bank of the Republic of Argentina