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. Its ISO 4217 code is ARS.
Since the late 20th century, the Argentine peso has experienced a substantial rate of devaluation, reaching 25% year-on-year inflation rate in 2017. 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 2018, the rate had risen to 40:1. In 2019, the inflation rate experienced the steepest year-on-year increase since the Great Recession. By August 12, 2019, the rate had risen to 60:1 after the market’s reaction to the 2019 Argentine primary elections.
Source: Wikipedia
Link: https://en.wikipedia.org/wiki/Argentine_peso
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