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{{Currency
|name= Argentine peso
|local name= <small>''Peso argentino'' {{lang|Spanish}}</small>
|banknotes-image= [[File:Argentine peso notes.png|110px]]
|coins-image= [[File:1pesocoin.png|110px]]
|coins-image-caption= [[Argentine 1 peso coin|1 peso coin]]
|ISO= <span style="font-family:monospace;">ARS</span>
|users= {{flag|Argentina}} [[Argentina]]
|years= *[[1826]]&ndash;[[1985]]
*[[1992]]&ndash;present
|inflation= 20.8% (2013)<ref>[https://www.cia.gov/library/publications/the-world-factbook/rankorder/2092rank.html?countryName=Afghanistan&countryCode=af&regionCode=sas&rank=223#af ''The World Factbook'']</ref>
|subunit= 1/100 [[centavo]]
|symbol= [[$]]
|coins= [[Argentine 5 centavo coin|5]], [[Argentine 10 centavo coin|10]], [[Argentine 25 centavo coin|25]], [[Argentine 50 centavo coin|50]] centavos, [[Argentine 1 peso coin|1]], [[Argentine 2 peso coin|2]] pesos
|banknotes= [[Argentine 2 peso banknote|2]], [[Argentine 5 peso banknote|5]], [[Argentine 10 peso banknote|10]], [[Argentine 20 peso banknote|20]], [[Argentine 50 peso banknote|50]], [[Argentine 100 peso banknote|100]] pesos
|central bank= [[Central Bank of Argentina]]
}}
The '''Argentine peso''' ({{wp|en|Spanish language|Spanish}}: '''''Peso argentino'''''; [[Currency sign|symbol]]: '''[[$]]'''; [[ISO 4217|code]]: <span style="font-family:monospace;">'''ARS'''</span>) is the [[currency]] of [[Argentina]]. It is subdivided into 100 [[centavo]]s. Several earlier currencies of Argentina were also called "[[peso]]", and the first of such currencies, the ''peso fuerte'' and ''peso moneda corriente'' were introduced in [[1826]]. From [[1985]] to [[1991]], the peso was replaced by the [[Argentine austral|austral]], but was then reintroduced in [[1992]].

==History==
===Before 1826===
:''For more information, see [[Argentine real]]''
The ''peso'' was a name often used to refer to the [[Spain|Spanish]] 8 [[Argentine real|real]] coin. After Argentina had {{wp|en|Argentine Declaration of Independence|gained}} independence from the [[Spanish Empire]], it began issuing its own coins, which were denominated in reales, [[sole]]s, and [[escudo]]s, which included 8 real coins, still referred to as ''pesos''. These "Argentine peso" coins circulated until [[1881]].<ref name=WikiEn1>{{Wikipedia-link|en}}</ref>
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===Peso fuerte===
[[File:Argentina 8 centesimos fuertes 1869 obv.jpg|thumb|220px|An 8 centesimos fuertes banknote.]]
In [[1826]], two currencies denominated in pesos were introduced within Argentina. One, the ''peso fuerte'' (symbol: $F; code: <span style="font-family:monospace;">ARF</span>) was a [[convertible currency]], with 17 pesos equaling one Spanish ounce (27.0643 g) of 0.916 fine [[gold]]. It was subdivided into 100 [[centesimo]]s. In [[1864]], this was changed to 16 pesos per gold ounce. It was replaced by the ''peso moneda nacional'' [[at par]].<ref name=WikiEn1/>

Banknotes were printed in denominations of [[Argentine 4 centesimo banknote|4]], [[Argentine 4½ centesimo banknote|4½]], [[Argentine 5 centesimo banknote|5]], [[Argentine 8 centesimo banknote|8]], [[Argentine 9 centesimo banknote|9]], [[Argentine 10 centesimo banknote|10]], [[Argentine 14 centesimo banknote|14]], [[Argentine 16 centesimo banknote|16]], [[Argentine 20 centesimo banknote|20]], [[Argentine 25 centesimo banknote|25]], [[Argentine 32 centesimo banknote|32]], [[Argentine 36 centesimo banknote|36]], [[Argentine 40 centesimo banknote|40]], [[Argentine 50 centesimo banknote|50]], and [[Argentine 75 centesimo banknote|75]] centesimos, and [[Argentine 1 peso banknote|1]], [[Argentine 2 peso banknote|2]], [[Argentine 3 peso banknote|3]], [[Argentine 4 peso banknote|4]], [[Argentine 5 peso banknote|5]], [[Argentine 8 peso banknote|8]], [[Argentine 10 peso banknote|10]], [[Argentine 20 peso banknote|20]], [[Argentine 50 peso banknote|50]], [[Argentine 100 peso banknote|100]], [[Argentine 200 peso banknote|200]], and [[Argentine 500 peso banknote|500]] pesos.<ref>[http://www.billetesargentinos.com.ar/billetes/en_peso_fuerte.htm Peso Fuerte &ndash; Billetes Argentinas]</ref>

===Peso moneda corriente===
[[File:Argentine peso fuerte 1826 obv.jpg|thumb|left|220px|A peso moneda corriente note.]]
The non-convertible ''peso moneda corriente'' ("everyday currency"; sign: $m/c) was introduced in 1826, and circulated alongside the ''peso fuerte'', with which it shared an [[exchange rate]] of 1:1, though the value of the ''peso moneda corriente'' subsequently depreciated. From [[January 3]], [[1867]] to [[May 17]], [[1876]], the currency could be converted into gold, at a rate of m/c 25 = $F 1 in the exchange office of the {{wp|en|Bank of the Province of Buenos Aires}} (Spanish: ''Banco de la Provincia de Buenos Aires''). This office closed in [[1876]] on account of people exchanging for gold in large quantities. It was replaced in 1881 by the ''peso moneda nacional''.<ref name=WikiEn1/><ref>{{Wikipedia-link|en|Argentine peso moneda corriente}}</ref> 

Although the [[Argentine Confederation]] issued [[Argentine 1 centavo coin|1]], [[Argentine 2 centavo coin|2]], and [[Argentine 4 centavo coin|4]] centavo coins in [[1854]], Argentina did not decimalize until 1881, with the introduction of the ''peso oro sellado'' and the ''peso moneda nacional''. Banknotes were issued in denominations of 1, 5, 10, 20, 50, 100, 200, 500, and [[Argentine 1000 peso banknote|1000]] pesos.<ref name=WikiEn1/><ref>[http://www.billetesargentinos.com.ar/billetes/en_moneda_corriente.htm Peso Moneda Corriente &ndash; Billetes Argentinas]</ref>

===Peso moneda nacional===
[[File:5 FRF 1873 obv.jpg|thumb|220px|One peso was initially equal to 5 French francs.]]
On [[November 5]], [[1881]], the depreciated ''peso moneda corriente'' was replaced by the ''peso moneda nacional'' ("national currency"; symbol: '''m$n''' or '''$m/n'''; code: <span style="font-family:monospace;">'''ARM'''</span>) at a rate of 25 to 1. It was used until [[December 31]], [[1969]]. The currency was subdivided into 100 centavos, and had a superunit, the [[argentino (coin)|argentino]], which was valued at 5 pesos.<ref name=WikiEn1/><ref name=WikiEn2>{{Wikipedia-link|en|Argentine peso moneda nacional}}</ref><ref name=WikiEs1>{{Wikipedia-link|es|Peso Moneda Nacional}}</ref>

Originally, the ''peso moneda nacional'' was [[convertibility|convertible]], with a value equaling one ''peso oro sellado'' (symbol: '''$o/s'''; code: '''<span style="font-family:monospace;">ARG</span>'''). Because of the loss of reserves of the [[Central Bank of Argentina|National Bank]] in [[1885]], the convertibility of the peso's notes was suspended until [[1899]], with the passage of [[Law 3871]]. It called for the reintroduction of the peso's convertibility to gold, but at a lower ratio than before. This lasted until [[1914]], at the start of {{wp|en|World War I}}. Afterward, a fixed monetary system was established, and the value of the currency remained fairly stable. In [[1927]], convertibility was restored once again, but only lasted until [[1929]].<ref name=WikiEs1/> 

The peso was originally [[fixed exchange rate|pegged]] to the [[French franc]] at a rate of 1 peso = 5 francs. In [[1883]], when silver coins ceased production, the ''peso moneda nacional'' was set at a value of 2.2 francs. After the suspension of the gold standard in 1914, in [[1927]], the peso became pegged to the [[United States dollar]], at a rate of 2.36 pesos = 1 dollar. This was changed to 1.71 pesos = 1 dollar in [[1931]] and then 3 pesos = 1 dollar in [[1933]]. Between [[1934]] and [[1939]], the peso was pegged to the [[pound sterling]] at a rate of 15 pesos = 1 pound.<ref name=WikiEn2/>

====Coins====
[[File:1Argentino.PNG|thumb|left|221px|An argentino coin.]]
On November 5, 1881, silver [[Argentine 10 centavo coin|10]], [[Argentine 20 centavo coin|20]], and [[Argentine 50 centavo coin|50]] centavo coins, and [[Argentine 1 peso coin|1]] peso coins were introduced, along with gold [[Argentine 1 argentino coin|argentino]] coins. A year later, in [[1882]], [[bronze]] 1 and 2 centavo coins were introduced, followed by a gold [[Argentine ½ argentino coin|½]] argentino coin in [[1884]]. All the silver coins were [[demonetization|demonetized]] in 1883. Every coin of this series depicted an image of {{wp|en|Liberty (goddess)|Liberty}} on the [[obverse]] and the {{wp|en|Coat of arms of Argentina|Argentine coat of arms}} on the [[reverse]].<ref name=WikiEs1/>

In [[1896]], a new issue was introduced, initially comprising of [[cupronickel]] (75% nickel, 25% copper) [[Argentine 5 centavo coin|5]], 10, and 20 centavo coins. These were followed by copper 1 and 2 centavo coins in [[1939]], and a nickel 50 centavo coin in [[1941]].<ref name=WikiEs1/>

Following this, in [[1942]], an [[aluminum-bronze]] issue of 5, 10, and 20 centavo coins was introduced, due to the high demand of nickel for use in {{wp|en|World War II}}. Another series followed soon after, in [[1950]]. It originally comprised of cupronickel 5, 10, and 20 centavo coins, which were minted to commemorate the 200th anniversary of the death of {{wp|en|José de San Martín}}. However, later in 1950, [[nickel]]-clad [[steel]] coins of these denominations were introduced, followed by a 50 centavo coin in [[1952]].<ref name=WikiEs1/>

A final issue was introduced in [[1956]]. During this year, nickel-clad steel 5, 10, 20, and 50 centavo, and 1 peso coins were minted. In [[1958]], the [[Argentine 5 peso coin|5]] peso coin was introduced, followed by the [[Argentine 10 peso coin|10]] peso coin in [[1959]], and the [[Argentine 25 peso coin|25]] peso coin in [[1961]].<ref name=WikiEs1/>

[[Commemorative coin]]s were minted during the [[1960s]] in denominations of 1, 10, and 25 pesos.<ref name=WikiEs1/>

====Banknotes====
[[File:Anverso - Billete 5 centavos de Peso Moneda Nacional (Argentina).png|thumb|220px|A 5 centavo note of 1891.]]
With the enactment of [[Law 2216]], privately owned banks throughout Argentina were allowed to produce paper money. However, there was so much diversity of the issues that even today, not all are correctly classified. In [[1884]], this act was repealed, and the Central Bank of Argentina began emitting their own banknotes, with denominations of [[Argentine 5 centavo banknote|5]], [[Argentine 10 centavo banknote|10]], [[Argentine 20 centavo banknote|20]], and [[Argentine 50 centavo banknote|50]] centavos. From [[1890]] to [[1892]], the same denominations were produced by the ''Banco de la Nación Argentina'' (Bank of the Nation of Argentina), along with 2, 5, 10, 20, 50, 100, 200, 500, and 1000 pesos. These were followed by a 1 peso note in [[1894]].<ref name=WikiEn2/><ref name=WikiEs1/>

[[Law 3505]], enacted on [[September 20]], [[1897]], authorized the [[Caja de Conversión]] to renovate all the banknotes in existence at the time. They developed a new design, which was called ''Efigie del Progreso'' (Progress' Effigy). These were originally created in a bigger size and printed by the mint (''[[Casa de Moneda]]''), using paper made in [[French Third Republic|France]]. Due to their size and the poor quality of the paper, the notes began to deteriorate. The Caja de Conversión was suspended from printing the notes, and looked for another provider. The new notes, which were of smaller size, began being issued in [[1903]], and used {{wp|en|typography}} as the printing method. Banknotes of these series had denominations of 50 centavos, 1, 5, 10, 50, 100, 500, and 1000 pesos.<ref name=WikiEs1/>

In 1942, the Central Bank of Argentina printed issued its first notes, which were more modern and secure than the previous series. Due to the momentary lack of capacity, some notes were printed in [[England]], but then resumed being printed at the mint. This series consisted of notes with denominations of 50 centavos, 1, 5, 10, 50, 100, 500, 1000, 5000, and [[Argentine 10,000 peso banknote|10,000]] pesos.<ref name=WikiEs1/>

===Peso ley 18.188===
On [[January 1]], [[1970]], the ''peso ley 18.188'' (code: <span style="font-family:monospace;">'''ARL'''</span>; symbol: '''$L'''), or simply the ''peso ley'', was introduced, after being established by [[Law 18188]], which became effective on [[April 5]], [[1969]]. The currency replaced the ''peso moneda nacional'' at a rate of 100 to 1. It was issued until [[May 5]], [[1983]], after suffering from [[hyperinflation]].<ref name=WikiEn3>{{Wikipedia-link|en|Argentine peso ley}}</ref><ref name=WikiEs2>{{Wikipedia-link|es|Peso Ley 18.188}}</ref>

====Coins====
[[File:Peso ley 18.188 coin 1975.jpg|thumb|left|220px|A 1 peso ley coin.]]
In [[1970]], [[aluminum]] 1 and 5 centavo, and [[brass]] 10, 20, and 50 centavo coins were introduced. As inflation eroded the value of the ''peso ley'', higher denominations were subsequently issued. The first of these was a 1 peso coin in [[1974]], followed by 5 and 10 peso coins in [[1976]], and [[Argentine 50 peso coin|50]] and [[Argentine 100 peso coin|100]] peso coins in [[1979]].<ref name=WikiEn3/><ref name=WikiEs2/>

In 1977, coins commemorating {{wp|en|Admiral}} {{wp|en|William Brown (admiral)|William Brown}}'s birth were introduced in denominations of 5 and 10 pesos. Also, the first coins commemorating the {{wp|en|1978 FIFA World Cup}} were minted, with denominations of 100, [[Argentine 1000 peso coin|1000]], [[Argentine 2000 peso coin|2000]], and [[Argentine 3000 peso coin|3000]] pesos. The following year, in 1978, 20 and 50 peso coins commemorating the World Cup were introduced, as well as 50 and 100 peso coins commemorating the birth of {{wp|en|General}} {{wp|en|José de San Martín}}. The final commemorative issue was made in 1979, which consisted of 50 and 100 peso coins marking the 100th anniversary of the {{wp|en|Conquest of the Desert}}.<ref name=WikiEs2/>

====Banknotes====
[[File:Argentina million pesos ley obv.jpg|thumb|220px|One million pesos ley.]]
In 1970, the 1 and 10 peso ley banknotes were issued. These were followed by 5 and 100 peso notes in 1971, 50 and 500 peso notes in 1972, and 1000 pesos in 1973. After the peso was impacted by inflation, higher denominations were printed. In 1976, the 10,000 peso note was introduced, followed by 5000 pesos in 1977, [[Argentine 50,000 peso banknote|50,000]] and [[Argentine 100,000 peso banknote|100,000]] pesos in 1979, [[Argentine 500,000 peso banknote|500,000]] pesos in 1980, and [[Argentine 1,000,000 peso banknote|1,000,000]] pesos in [[1981]].<ref name=WikiEn3/>

===Peso argentino===
On [[June 16]], [[1983]], the ''peso argentino'' (symbol: '''$a'''; code: <span style="font-family:monospace;">'''ARP'''</span>) was introduced, replacing the ''peso ley'' at a rate of 1 peso argentino = 10,000 pesos ley. Inflation during the time period eventually took its toll, and the ''peso argentino'' was replaced by the austral on [[June 15]], [[1985]].<ref name=WikiEn1/>

====Coins====
[[File:Argentina 1 peso 1984.jpg|thumb|left|220px|A 1 peso coin.]]
On [[June 1]], 1983, aluminum coins with denominations of 1, 5, 10, and 50 centavos were issued. About a year later, on [[July 6]], [[1984]], an aluminum 1 peso coin was introduced, followed by brass 5 and 10 peso coins on [[December 3]], and an aluminum-bronze 50 peso coin on [[May 31]], 1985. The centavo denominations and the 1 peso coin were withdrawn on [[July 19]], 1985, while the higher denominations were taken out of circulation a few years later, on [[July 31]], [[1991]].<ref name=WikiEn4>{{Wikipedia-link|en|Argentine peso argentino}}</ref>
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====Banknotes====
[[File:Argentina 1 peso 1983 obv.jpg|thumb|220px|One peso argentino.]]
On [[June 1]], 1983, the Central Bank of Argentina issued banknotes with denominations of 1, 5, 10, 50, and 100 pesos. On [[October 31]] of that same year, the 1000 peso banknote was introduced. In 1984, 500 and 5000 peso notes were issued, followed by the 10,000 peso note in 1985. The 1 peso note was demonetized in 1985, while every other ''argentino'' note was withdrawn in [[1987]].<ref name=WikiEn4/>

After the austral's introduction, some 1000, 5000, and 10,000 ''peso argentino'' notes were overstamped with A 1 ([[Argentine 1 austral banknote|1 austral]]), A 5 ([[Argentine 5 austral banknote|5 australes]]), and A 10 ([[Argentine 10 austral banknote|10 australes]]), respectively.<ref name=WikiEn4/>

===Peso convertible===
[[File:Austral.svg|thumb|left|150px|The austral was replaced by the peso.]]
The current peso was introduced in 1992, replacing the austral at a rate of 1 peso = 10,000 australes. It was initially referred to as the ''peso convertible'', since the international [[exchange rate]] was fixed by the Central Bank of Argentina at 1 peso to 1 [[United States dollar|U.S. dollar]] and for every ''peso convertible'' in circulation, there was a U.S. dollar in the bank's [[reserve currency|foreign currency reserves]]. However, after the {{wp|en|Argentine economic crisis (1999–2002)|Argentine economic crisis}}, the fixed exchange rate system was abandoned.<ref name=WikiEn1/><ref name=WikiEs3>{{Wikipedia-link|es|Peso de Argentina}}</ref>

Since January 2002, the exchange rate fluctuated, reaching up to four pesos = one U.S. dollar (a 75% [[devaluation]]). An increase in {{wp|en|Export|exports}} produced a massive inflow of U.S. dollars into Argentina's [[Argentina#Economy|economy]], which helped in lowering the price. For a time, the administration stated and maintained a strategy to keep the exchange rate  between 2.90 and 3.10 pesos per dollar, to maintain the competitiveness of exports and encourage {{wp|en|import substitution}} by local industries. Whenever necessary, the Argentine Central Bank emits pesos and purchases dollars in the free market to keep the dollar price from dropping, and had amassed over 27,000 million USD before the 9,810 million USD payment to the [[International Monetary Fund]] in [[2006]].<ref name=WikiEn1/><ref name=WikiEs3/>

====Coins====
[[File:Monedas argentinas.jpg|thumb|200px|Various peso coins.]]
In 1992, 1, 5, 10, [[Argentine 25 centavo coin|25]], and 50 centavo coins were introduced, followed by 1 peso coins in 1994. The 1 centavo coin was last minted in 2001, and has been since removed from circulation. The composition of some of the coins changed as they continued circulating, such as the 10 centavo coin, which was initially aluminum-bronze, but was subsequently changed to brass-clad steel.<ref name=WikiEn1/>

Coins are often hard or difficult to come by in Argentina, especially in the nation's capital, {{wp|en|Buenos Aires}}. This problem has evolved to the stage where some shop owners will not sell items if the transaction involves giving the customer change in coins. The problem has been made worse by ATMs, which frequently only give out 100 peso notes, and by bus companies, some of which will take the coins in payment and later sell these at a 5–10% markup on the {{wp|en|black market}} rather than depositing them at banks. However, this situation has improved since the conclusion of the Argentine economic crisis in [[2002]].<ref name=WikiEn1/>

====='''Commemorative coins'''=====
A number of commemorative coins were issued after 1992. The first commemorative series was made in 1994, which marked the {{wp|en|1994 amendment of the Argentine Constitution|National Constitutional Convention}}. Series commemorating the {{wp|en|United Nations}}, {{wp|en|UNICEF}}, women's suffrage, {{wp|en|Mercosur}}, and {{wp|en|Jorge Luis Borges}} followed in [[1995]], [[1996]], [[1997]], [[1998]], and [[1999]], respectively. Also in 1996, Argentina's "Latin American" series began. In [[2000]], two separate series of Generals {{wp|en|Martín Miguel de Güemes}} and José de San Martín were issued. A year later, in 2001, the city of {{wp|en|Comodoro Rivadavia}} and General {{wp|en|Justo José de Urquiza}} were commemorated on coinage. To commemorate the {{wp|en|2006 FIFA World Cup}}, coins were issued beforehand, in [[2004]] and [[2005]]. Also in 2004, a coin commemorating the death of {{wp|en|Eva Perón}} was issued, and in 2005, one commemorating the Central Bank of Argentina was produced. In [[2006]], another commemorative coin was minted, followed by two issues in [[2007]]. One was minted to mark the 25th anniversary of the {{wp|en|Falklands War}}, while the other commemorated the 100th anniversary of the discovery of {{wp|en|Petroleum|oil}} in Argentina. To mark the International Day of Human Rights a commemorative series was issued in [[2009]]. In [[2010]], the Central Bank, the {{wp|en|2010 FIFA World Cup}}, and the country of Argentina were commemorated on coins.<ref name=WikiEs3/>

====Banknotes====
[[File:Argentina 1 peso 1993 obv.jpg|thumb|left|220px|The 1 peso note, now obsolete.]]
In 1992, banknotes were introduced in denominations of 1, 2, 5, 10, 20, 50, and 100 pesos. With the introduction of the 1 peso coin in 1994, the corresponding note became obsolete. Initially, the banknotes bore text reading, "Convertibles de curso legal", but in 2002, this was removed. As most of these have been replaced, it is rare to find ones marked with this nowadays, except on the 50 and 100 peso denominations.<ref name=WikiEn1/>

In 2008, it was proposed the Argentine peso notes be redesigned; however, no changes have been implemented thus far.<ref name=WikiEs3/>

==Exchange rates==
{{Exchange rates|ARS}}

==See also==
*[[Argentine austral]]
*[[:Category:Currencies of Argentina|Argentine currencies]]

==References==
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