Code ARM 1/100 centavo centavo ยข | 5 argentino Symbol m$n or $m/n | |
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Banknotes 50 centavos, 1, 5, 10, 50, 100, 500, 1000, 5000, 10 000 pesos | ||
The peso moneda nacional was the currency of Argentina from November 5, 1881 to January 1, 1970, the date in which the Argentine peso ley was issued to the Argentine public. It was subdivided into 100 centavos, with the argentino worth 5 pesos. Its symbol was m$n or $m/n. Its ISO 4217 code was ARM.
Contents
History
The peso moneda nacional replaced the Argentine real at a rate of one to eight. It also replaced the peso fuerte at par and the peso moneda corriente at a rate of 25 pesos monedas corrientes = 1 peso moneda nacional. The peso moneda nacional was itself replaced by the peso ley at a rate of one hundred to one.
The peso was initially pegged to the French franc at a rate of 1 peso = 5 francs. In 1883, when silver coins ceased production, the paper peso was set at a value of 2.2 francs or 638.7 mg gold. After a suspension in the gold standard from 1914, in 1927, a peg to the U.S. dollar was established of 2.36 pesos = 1 dollar. The rate changed to 1.71 pesos = 1 dollar in 1931, then to 3 pesos = 1 dollar in 1933. Between 1934 and 1939, the peso was pegged to the British pound at a rate of 15 pesos = 1 pound. High inflation in the post-war period lead to the introduction of the peso ley in 1970 at the rate of 100 pesos monedas nacionales = 1 peso ley.
Coins
In 1881, silver 10, 20 and 50 centavos and 1 peso and gold 1 argentino coins were introduced, followed by bronze 1 and 2 centavos the next year. Silver coins ceased production in 1883, with gold coins ending in 1896. Base metal 5, 10 and 20 centavos were introduced in 1896, with base 50 centavos following in 1941. The 1 peso was reintroduced in 1957, with 5, 10 and 25 pesos introduced in 1961, 1962 and 1964.