Argentine Peso

(redirected from Argentina Pesos)

Argentine Peso

The currency of Argentina. It was introduced in 1992, replacing the austral following a bout of hyperinflation. At introduction, it was pegged to the U.S. dollar at a one-to-one ratio, meaning that if one presented one peso to the Central Bank of the Republic of Argentina, it could be redeemed for one dollar. This peg was dropped during the Argentine economic crisis of 2001, but the Central Bank attempts to keep the value of the peso around three dollars to promote stability. It is also called the peso convertible.
References in periodicals archive ?
Exchange rate fluctuations caused a negative effect upon operational results when converted to Chilean pesos from Brazilian reais and Argentina pesos.
The rating also reflects the company's exposure to a devaluation of the Argentina pesos due to its peso revenues and U.