Argentine Peso (1983–1985)

The Argentine peso (ARS) is the official currency of Argentina. It is subdivided into 100 centavos, and its ISO 4217 code is ARS. The Argentine peso was introduced in 1992, replacing the Argentine austral, at a rate of 1 peso = 10,000 australes. The symbol for the peso is "$", and the symbol for the centavo is "¢". In Argentine Spanish, peso can also mean "weight", and the currency is sometimes referred to as peso argentino ("Argentine weight") to distinguish it from other pesos. The Argentine peso is one of the few currencies which is not based on a decimal system; instead, it is based on the vigesimal system, with each peso subdivided into 100 centavos (hundredths). The Argentine peso is the national currency and is legal tender in the country. It is issued and controlled by the Central Bank of Argentina. There have been several different issues of the peso, with the first peso argentino being introduced in 1992. This replaced the austral at a rate of 1 peso = 10,000 australes. The peso argentino was pegged to the U.S. dollar at a rate of 1 peso = 1 dollar. This peg lasted until 2002, when the peso argentino was allowed to float against the dollar. The peso argentino has since been subject to high inflation, with the exchange rate varying wildly. The current peso argentino banknotes are issued in denominations of 2, 5, 10, 20, 50, and 100 pesos. There are also coins in denominations of 1, 5, 10, 25, and 50 centavos, and 1 peso. The 2 and 5 peso coins are made of brass, while the 10, 20, and 50 centavo coins are made of bronze. The 1 peso coin is made of cupronickel, and the 5 peso coin is made of nickel-clad steel.