# **Argentina**

## **Full Financial History Report**

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### **Basic Data:**

- **ISO Country Code:** AR
- **Official Language:** Spanish
- **ISO Language Code:** es
- **Current Official Currency:** Argentine Peso
- **ISO Currency Code (Current):** ARS

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## **1. Monetary History of Argentina**

Argentina's monetary history is complex and marked by multiple currency reforms, high inflation periods, and a succession of different monetary units from its independence to the present day.

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## **2. Currencies Circulated in Argentina (since the beginning of monetary production)**

Below are all currencies that have circulated in Argentina:

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### **2.1. Real (Argentine Real)**

- **ISO Code:** —
- **Singular Name:** Real
- **Plural Name:** Reais
- **Monetary Subdivision:** 1 Real = 8 small reals / 1 Real = 100 centavos (in some periods)
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** c. 1776
- **End Date of Production:** 1881
- **Start Date of Circulation:** c. 1776
- **End Date of Circulation:** 1881
- **Mint:** Casa de Moneda de Buenos Aires
- **Issuing Bank:** Not applicable (colonial and early republican coinage)
- **Coin Denominations:** ½ real, 1 real, 2 reals, 4 reals, 8 reals
- **Banknote Denominations:** —
- **Historical Context:** Used during the colonial period and early independence era; based on the Spanish real.
- **Designs / Symbols:** Included lions, castles, and heraldic shields.
- **Current Status:** Out of circulation
- **Issuing Authority:** Local governments and Spain (during colonial rule)
- **Relevant Legislation:** Used during the Viceroyalty of the Río de la Plata

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### **2.2. Peso Fuerte (Strong Peso)**

- **ISO Code:** ARL
- **Singular Name:** Peso fuerte
- **Plural Name:** Pesos fuertes
- **Monetary Subdivision:** 1 Strong Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1854
- **End Date of Production:** 1881
- **Start Date of Circulation:** 1854
- **End Date of Circulation:** 1881
- **Mint:** Casa de Moneda de Buenos Aires
- **Issuing Bank:** Banco de la Provincia de Buenos Aires
- **Coin Denominations:** 1, 2, 4, 10, 20, 40 centavos
- **Banknote Denominations:** 1, 2, 4, 5, 10, 20, 50, 100 strong pesos
- **Historical Context:** First stable currency under the decimal system.
- **Designs / Symbols:** Patriotic symbols such as the sun, laurels, and busts of national heroes.
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco de la Provincia de Buenos Aires
- **Relevant Legislation:** Law of Single Currency (1853)

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### **2.3. Peso Moneda Nacional (PMN)**

- **ISO Code:** ARM
- **Singular Name:** Peso moneda nacional
- **Plural Name:** Pesos moneda nacional
- **Monetary Subdivision:** 1 Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1881
- **End Date of Production:** 1970
- **Start Date of Circulation:** 1881
- **End Date of Circulation:** 1970
- **Mint:** Casa de Moneda de la Nación Argentina
- **Issuing Bank:** Banco de la Nación Argentina
- **Coin Denominations:** 1, 2, 5, 10, 20, 50 centavos; 1 peso
- **Banknote Denominations:** 1, 2, 5, 10, 20, 50, 100, 500, 1000 pesos
- **Historical Context:** Replaced the Strong Peso after the convertibility law.
- **Designs / Symbols:** Featured national figures like San Martín, Belgrano, and Güemes.
- **Print Runs / Commemorative Issues:** Several commemorative series for historical events.
- **Current Status:** Out of circulation
- **Issuing Authority:** Banco de la Nación Argentina
- **Relevant Legislation:** Convertibility Law of 1881

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### **2.4. Austral (ARA)**

- **ISO Code:** ARA
- **Singular Name:** Austral
- **Plural Name:** Aucais
- **Monetary Subdivision:** 1 Austral = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1985
- **End Date of Production:** 1991
- **Start Date of Circulation:** 1985
- **End Date of Circulation:** 1991
- **Mint:** Casa de Moneda de la Nación Argentina
- **Issuing Bank:** Central Bank of Argentina
- **Coin Denominations:** ½, 1, 5, 10, 50 aucais
- **Banknote Denominations:** 1, 5, 10, 50, 100, 1000, 5000, 10000 aucais
- **Historical Context:** Introduced to combat hyperinflation in the 1980s.
- **Designs / Symbols:** Native animals and natural landscapes.
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Argentina
- **Relevant Legislation:** Law 23.187 (Creation of the Austral – 1985)
- **Signatories on Notes:** President Raúl Alfonsín, Minister Juan Sourrouille

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### **2.5. Peso Ley (ARP)**

- **ISO Code:** ARP
- **Singular Name:** Peso ley
- **Plural Name:** Pesos ley
- **Monetary Subdivision:** 1 Peso ley = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1992
- **End Date of Production:** 1992
- **Start Date of Circulation:** 1992
- **End Date of Circulation:** 1992
- **Mint:** Casa de Moneda de la Nación Argentina
- **Issuing Bank:** Central Bank of Argentina
- **Coin Denominations:** 1, 5, 10, 50 centavos; 1 peso ley
- **Banknote Denominations:** 1 peso ley
- **Historical Context:** Served as a transition between the Austral and the new Argentine Peso.
- **Current Status:** Out of circulation
- **Issuing Authority:** Central Bank of Argentina
- **Relevant Legislation:** Law 24.007 (Monetary Reform – 1992)
- **Signatories on Notes:** President Carlos Menem, BCRA President Roque Fernández

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### **2.6. Argentine Peso (ARS)** – **Current Official Currency**

- **ISO Code:** ARS
- **Singular Name:** Argentine Peso
- **Plural Name:** Argentine Pesos
- **Monetary Subdivision:** 1 Peso = 100 centavos
- **Fraction Singular Name:** Centavo
- **Fraction Plural Name:** Centavos
- **Start Date of Production:** 1992
- **End Date of Production:** Ongoing
- **Start Date of Circulation:** 1992
- **End Date of Circulation:** In circulation
- **Mint:** Casa de Moneda de la Nación Argentina
- **Issuing Bank:** Central Bank of Argentina
- **Coin Denominations:** $0.05, $0.10, $0.25, $0.50, $1, $2, $5, $10
- **Banknote Denominations:** $2, $5, $10, $20, $50, $100, $200, $500, $1000
- **Historical Context:** Launched during Domingo Cavallo’s economic plan with a 1-to-1 parity with the US dollar.
- **Designs / Symbols:** “Numerus”, “Bicentenario” and “Argentina Grande” series, featuring native fauna and cultural elements.
- **Print Runs / Commemoratives:** Series featuring native animals (e.g., aguará guazú, puma).
- **Curiosities:** Colorful banknotes with advanced anti-counterfeit features.
- **Current Status:** Active
- **Issuing Authority:** Central Bank of Argentina
- **Relevant Legislation:** Law 24.007 (Monetary Reform – 1992)
- **Current Signatories:** President of the Central Bank, Minister of Economy
- **People Honored on Notes:** Recent designs feature no people, only native wildlife and cultural motifs

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## **3. Mints / Production Facilities**

- **Casa de Moneda de Buenos Aires** (founded in 1776)
- **Casa de Moneda de la Nación Argentina** (current institution)

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## **4. Chronological Summary of Currency Changes**

| Year | Currency Change | Equivalence |
|------|------------------|-------------|
| 1881 | Strong Peso → National Currency Peso | 1:1 |
| 1970 | National Currency Peso → Peso Ley | 1:100 |
| 1985 | National Currency Peso → Austral | 1:10,000 |
| 1991 | Austral → Peso Ley | 1:10,000 |
| 1992 | Peso Ley → Argentine Peso | 1:1 |

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## **5. Additional Curiosities**

- Argentina was one of the countries with the most frequent currency changes in the 20th century.
- The name "peso" has been used in various eras, though with different values and characteristics.
- The hyperinflation of 1989 led to the creation of the Austral, but it failed to stabilize the economy.
- The ARS$1000 note is currently the highest denomination in circulation.

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## **6. Historical Issuing Authorities**

- Banco de la Provincia de Buenos Aires
- Banco de la Nación Argentina
- Central Bank of Argentina

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## **7. Key Monetary Legislation**

- Convertibility Law (1881)
- Law 23.187 (Creation of the Austral – 1985)
- Law 24.007 (Monetary Reform and Creation of the Argentine Peso – 1992)

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## **8. Prominent Figures Featured on Banknotes**

- José de San Martín
- Manuel Belgrano
- Mariano Moreno
- Juan de Garay
- Bartolomé Mitre
- Juana Azurduy de Padilla
- Dardo Rocha
- Estanislao del Campo
- Lucio V. Mansilla