Argentine Peso Ley (1970–1983)

ARL is the currency of the Republic of Argentina. It is also informally known as the "peso argentino" and was formerly called the "austral". One ARL is subdivided into 100 centavos. The ARL was introduced in 1992, replacing the austral at a rate of 1 austral = 10,000 ARL. The ARL was pegged to the U.S. dollar at a rate of 1 ARL = 1 USD. The currency was allowed to float in 2002 and has since been subject to significant devaluation. As of March 2016, one ARL is worth approximately 0.04 USD.