The Argentine Republic is located in South America and is one of the richest countries in the region. The shores of its eastern part are washed by the waters of the Atlantic Ocean, which is very attractive for tourists from various countries. Also popular among travelers are the northwestern regions of the Andes, where you can go skiing and relax. Tourists often wonder what currency is in Argentina and what currency units are in use. It must be said that the American dollar is constantly in circulation in the republic, especially when it comes to visiting major cities and tourist centers. In a remote provincial area, you must have local money. The currency of Argentina is called the new Argentine peso. In the international currency market, it is indicated by the three initial letters ARS. There are smaller coins, which are called centavos.
From the history of the country
The name of the state is translated from Latin as “silver”. This is very symbolic, because the Spaniards arrived in Argentina precisely to search for this metal. For a long time the country was under their oppression and only in 1816 gained independence.
The beginning of the 20th century was the heyday of Argentina. European emigrants greatly enriched her and made her the richest on the continent. In 1976, power was in the hands of a military junta. In 1983, a democratic system was established in the country, but the originally Argentine Falkland Islands remained under British rule. The economy of the state was greatly affected by the economic crisis of the late twentieth century, Argentina was able to get out of it only by 2006.
Denomination of banknotes and coins
The Argentine peso has a paper expression. Also in circulation are coins of one, two and five pesos. In the paper version, there are two, five, ten, twenty, fifty and one hundred peso bills. In addition, the country has circulation coins - centavo. In one peso, a hundred centavos. Before the advent of present money, the currency of Argentina was called the australian.
Coins in Argentina are made from various metals, such as brass, aluminum bronze, alloys of copper, nickel and brass, copper and nickel. In the state there is a coin that is made of pure gold. It is called "Argentino" and has a face value of one peso. On one side of the gold coin is a coat of arms, and on the other a woman personifying Argentina.
Banknotes are all the same size - 155 by 65 millimeters. They are made of paper made from cotton fiber. The currency of Argentina has several degrees of protection, including watermarks.
What does the peso look like?
On paper banknotes the most beautiful and significant places of the state are depicted, such as the Independence Monument, the Presidential Palace, the Miter Museum and the National Congress. On the opposite side are portraits of famous people in Argentina. Among them:
- Carlos Pellegrini He was vice president and president of Argentina. He became the founder of the bank and helped the country out of the economic crisis at the end of the 19th century.
- Juan Manuel de Rosas is a politician and head of the confederation in Argentina. He was one of the first dictators in Latin America. His image can be seen on a twenty peso banknote.
- Julio Argentino Roca - a politician who took part in pacifying the Indians, for which he gained authority in high circles. He was twice elected president of Argentina and successfully managed his duties. His portrait is placed on a hundred peso note.
- Domingo Fuastino Sarmiento is a military leader, ambassador to the United States and president of Argentina. His portrait is placed on a fifty peso note.
- Manuel Belgrano is a politician of the late XVIII - early XIX centuries. Engaged in advocacy, was a distinguished general. Depicted on a ten peso bill.
- Jose Francisco de San Martin is the national hero of Argentina. Headed the resistance movement to the colonialists. Depicted on a bill in five pesos.
Peso History
The currency of Argentina until 1985 was called the old Argentine peso. As a result of the denomination, a thousand pesos were exchanged for one australia. The country experienced strong inflation, so the need for a new exchange arose. Over ten thousand australians gave one new peso. A new exchange took place on the last day of 1991. To this day, the new Argentine peso remains in use.
Currency Rates
Leadership of the state adheres to a policy of managed floating exchange rates. Among Latin American countries, only Venezuela and Argentina follow such tactics. The currency, whose exchange rate has long been quite high, has recently declined by half. In the country in free circulation there are also American dollars. A large percentage of payments are made by Visa cards and others.
The Argentine peso is 1: 9 against the dollar and 1: 9.5 against the euro. Recently, there has been a fall in all major world currencies. It also affected the Argentine peso.
Recommendations for tourists
Those who are going to spend an unforgettable vacation in Argentina should not forget that this is a rather expensive country. Until some time, even the Argentines themselves tried to go on vacation to cheaper countries such as the United States or Brazil.
According to the most conservative estimates, visitors will have to spend about five dollars a day on food, on average, about fifty dollars a day will be spent on food. Housing prices range from ten to one hundred and fifty dollars a day. The currency of Argentina is quite expensive, so tourists from the territory of the post-Soviet space do not always choose a country as a place to stay.
Argentina has a two-tiered pricing system. For the local population, everything is cheaper, and for foreigners visiting - at times more expensive. The currency of Argentina is not in a stable position. The country is going through many moments of inflation, like many other states in the modern world. However, the flow of tourists to Argentina remains stably high.