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The ISO 4217 currency code for Argentinian Peso.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
ISO 4217 code for the Argentinian peso. It was introduced in 1992, replacing the austral following 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 in 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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved