The ARS (Argentine Peso) is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using peso or dollar currencies. It is subdivided into 100 centavos. The ARS ISO 4217 code is ARS.
The Argentine currency has experienced severe inflation, with periods of hyperinflation, since the mid-20th century, with periodic change of the currency to a new version at a rate ranging from 100:1 to 10,000:1. The peso introduced in 1992 was worth 10,000,000,000,000 (ten trillion) of the pesos in use until 1970.
Since the early 21st century, the Argentine peso has experienced a substantial rate of devaluation, reaching over 51% year-on-year inflation rate in 2021.[5] The official exchange rate for the United States dollar commenced at 1:1 at the peso’s introduction in 1992; it then hovered around 3:1 from 2002 to 2008, before 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.[6] By October 2020, the unofficial or freely available rate had risen to 195:1 (ARS to USD).
ARS Coins
In 1992, 1 centavo, 5 centavo, 10 centavo, 25 centavo and 50 centavo coins were introduced, followed by 1 peso in 1994. Two peso coins for circulation were introduced in 2010. The 1-centavo coins were last minted in 2001.
ARS Banknotes
In 1992, banknotes were introduced in denominations of 1, 2, 5, 10, 20, 50, and 100 pesos. The 1peso note was replaced by a coin in 1994.
In 2016, the Banco Central de la República Argentina issued a new series of banknotes, with the 200 and 500 pesos banknotes as the newest denominations. A new 20 and 1,000-pesos note were issued in 2017, and new banknotes of 50 and 100 pesos were issued in 2018. A new series of coins in denominations of $1, $2, $5, and $10 started to be issued since 2018
On the afternoon of May 23, 2022, the Argentine Central Bank officially launched a new version of the banknotes. The new banknotes include 1,000, 500, 200, and 100 Argentine pesos, with San Martin, Belgrano, Guémez, and Madame Peron printed on them. important figures in Argentine history.