Argentine Peso (ARP): Definition, History, and Currency Replacements

The argentine peso (ARP) was introduced in June 1983 to replace the peso ley at an exchange rate of 1 ARP per 10,000 peso ley. Denominated in centavos, the ARP was divided into 100 subunits. It had coin denominations of 1, 5, 10, and 50 pesos, as well as banknotes in denominations of one, five, 10, 50, 100, 500, 5,000, and 10,000 pesos. However, its existence was short-lived, lasting only until 1985 when it was replaced by the Argentine austral (ARA).

Argentine currency has a tumultuous history marked by periods of extreme devaluation and hyperinflation. Initially, gold and silver Spanish coinage circulated during colonial rule. In 1826, the peso fuerte (ARF) was introduced, convertible to Spanish gold. However, it coexisted with the moneda corriente. In 1881, the peso moneda nacional was established, consolidating the ARF and moneda corriente. Paper currency issuance began in 1881. The 1900s saw various currency reforms, including the introduction of the peso ley (ARL) in 1970, which preceded the ARP.

The argentine peso (ARP) was replaced due to severe hyperinflation and currency devaluation, which rendered it unsustainable as the national currency.

The argentine peso (ARP) was succeeded by the Argentine austral (ARA) in 1985, which was then replaced by the Argentinian nuevo peso (ARS) in 1992.

The argentine peso (ARP) contributed to economic instability and hyperinflation, leading to a loss of confidence in the currency and necessitating its replacement.

To stabilize the currency, Argentina has implemented various monetary policies, including currency reforms, fiscal measures, and efforts to control inflation.