The currency of Argentina. Argentine peso: history of creation

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

The Argentine Republic is located in South America and is one of the richest countries in the region. The shores of its eastern part are washed by the waters of the Atlantic Ocean, which is very attractive for tourists from various countries. Also popular among travelers are the northwestern regions of the Andes, where you can go skiing and have a good rest. Tourists often ask questions about what currency is in Argentina and what monetary units are in use. It must be said that the American dollar is constantly in circulation in the republic, especially when it comes to visiting large cities and tourist centers. In a remote provincial area, it is necessary to have local money. The currency of Argentina is called the New Argentine Peso. In the international currency market, it is indicated by three initial letters ARS. There are smaller coins called centavos.

From the history of the country

The name of the state is translated from Latin as "silver". It's very symbolicbecause the Spaniards arrived in Argentina precisely to search for this metal. For a long time the country was under their yoke and only in 1816 gained independence.

The beginning of the 20th century was the heyday of Argentina. European emigrants greatly enriched her and made her the richest on the continent. In 1976, power was in the hands of a military junta. In 1983, a democratic system was established in the country, but the original Argentine Falkland Islands remained under British rule. The economy of the state was greatly affected by the economic crisis of the late twentieth century, from which Argentina was able to get out only by 2006.

Denomination of banknotes and coins

The Argentine peso has a paper currency. There are also coins in denominations of one, two and five pesos. In the paper version, there are bills of two, five, ten, twenty, fifty and one hundred pesos. In addition, coins have circulation in the country - centavo. One peso is one hundred centavos. Before the advent of the current money, the currency of Argentina was called austral.

Coins in Argentina are made from various metals such as brass, aluminum bronze, copper alloys, nickel and brass, copper and nickel. The state has a coin that is made of the purest gold. It is called "argentino" and has a denomination of one peso. On one side of the gold coin there is a coat of arms, and on the other side a woman representing Argentina.

Paper bills are all the same size - 155 by 65 millimeters. They are made from papermade of cotton fibre. The currency of Argentina has several degrees of protection, including watermarks.

What the peso looks like

The most beautiful and significant places of the state are depicted on paper banknotes, such as the Independence Monument, the Presidential Palace, the Mitre Museum and the National Congress. On the opposite side are portraits of famous people in Argentina. Among them:

• Carlos Pellegrini. He was Vice President and President of Argentina. He became the founder of the bank and contributed to the country's exit from the economic crisis at the end of the 19th century.
• Juan Manuel de Rosas is a politician and head of the confederation in Argentina. He was one of the first dictators in Latin America. His image can be seen on the twenty peso note.
• Julio Argentino Roca is a politician who took part in the pacification of the Indians, for which he gained authority in high circles. He was twice elected President of Argentina and successfully coped with his duties. His portrait is featured on the 100 peso bill.
• Domingo Fuastino Sarmiento is a military figure, ambassador to the United States and president of Argentina. His portrait appears on the fifty peso bill.
• Manuel Belgrano is a politician of the late 18th - early 19th centuries. He was engaged in advocacy, was a famous general. Featured on the ten peso bill.
• Jose Francisco de San Martin is a national hero of Argentina. He led the movement of resistance to the colonialists. Featured on the five peso bill.

History of appearancepesos

The currency of Argentina until 1985 was called the old Argentine peso. As a result of the denomination, a thousand pesos were exchanged for one austral. There was strong inflation in the country, so a new exchange arose. For ten thousand australs they gave one new peso. There was a new exchange on the last day of 1991. Until today, the new Argentine peso remains in use.

Currency rates

The leadership of the state adheres to the policy of controlled floating of exchange rates. Among Latin American countries, only Venezuela and Argentina follow this tactic. The currency, which has been quite high for a long time, has recently halved. On the territory of the country in free circulation there are also American dollars. A large percentage of payments are made by Visa cards and others.

The exchange rate of the Argentinean peso against the dollar is 1:9, and against the euro - 1:9, 5. Recently, there has been a fall in all major world currencies. This also affected the Argentine peso.

Recommendations for tourists

Those who are going to spend an unforgettable vacation in Argentina should not forget that this is a rather expensive country. Until some time, even the Argentines themselves tried to go on vacation to cheaper countries, such as the USA or Brazil.

For visitors, according to the most conservative estimates, you will have to spend about five dollars a day on food, on average, about fifty dollars a day for food. Housing prices range fromten to one hundred and fifty dollars a day. The currency of Argentina is quite expensive, so tourists from the territory of the former Soviet Union do not always choose the country as a place to stay.

Argentina has a two-tier price system. For the local population, everything is cheaper, and for visiting foreigners - many times more expensive. The Argentinean currency is not stable enough. The country is in many ways going through moments of inflation, like many other states in the modern world. However, tourism to Argentina remains consistently high.