The Argentine peso (ARS)The peso (established as the peso convertible) is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies.
It is subdivided into 100 centavos.
Since the late 20th century, the Argentine peso has experienced a substantial rate of devaluation, reaching over 51% year-on-year inflation rate in 2021.
The official exchange rate for the United States dollar hovered around 3:1 from 2002 to 2008, climbing from 6:1 to 10:1 between 2009 and 2015.
By August 2019, the rate had risen to 60:1 after the market's reaction to the 2019 Argentine primary elections.
By October 2020, the unofficial or freely available rate had risen to 195:1 (ARS to USD).
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