The Argentina Peso is the official currency of Argentina. It is identified by the $ symbol and is internationally recognized for the code ARS. The currency is issued by the Central Bank of the Republic of Argentina. As of 2017, the Banco Ciudad has estimated that the inflation rate is at 20.2%.
The Peso-denominated currencies are established by the Spanish Empire. This currency was established in 1497 at a time when Spain gained a lot of power and spread that power over many of its colonies (like many other powerful countries in Europe did). This means that all of the Spanish colonies and territories adopted the Peso as a legal tender.
The Argentina Peso has a monetary unit that follows a decimal system. Both the banknotes and coins are printed by the Banco Central de la Republica Argentina. The coins are available in 7 denominations such as the following:
- 5-centavo coins
- 10-centavo coin
- 25-centavo coin
- 50-centavo coin
- 1 peso coin
- 2 peso coin
- 5 peso coin
Meanwhile, there are 6 denominations available for the Argentina Peso banknotes. They are as follows:
- 2 pesos
- 5 pesos
- 10 pesos
- 20 pesos
- 50 pesos
- 100 pesos
Facts About Argentina Peso
Here are some interesting facts about the Argentina Pesos that you might want to know:
- The Argentina Peso is divided into 100 centavos. However, the 1-centavo coin has been removed from circulation since 2001.
- The Peso suffered a major devaluation due to an economic crisis in 2002.
- There are plenty of ATMs available in most towns in Argentina. This makes it easy to access local currency for those traveling within Argentina.
- To avoid scams and robberies, all ATM transactions in Argentina are limited to $100 USD per transaction. There is also a new fee of 16 Pesos established in Argentina in 2009 for every ATM transaction.
- When traveling within Argentina, always have smaller change available. Most shops and taxis will not accept bills with large denominations.
- The value of the Argentina Peso is pegged to the US Dollar. As of 2017, 1 Argentina Peso is equal to 0.056 US Dollar.