Peso moneda nacional — Argentina
Gold and silver pesos (1881–1970)
The system in use before 1881 was described as "monetary anarchy" (anarquía monetaria). In 1881 was defined as monetary unit the peso oro sellado ("stamped gold peso"), with a reference gold coin of 1,612 grams of fineness of 90% (900), and a silver peso of 25 g of fineness 900 (ISO 4217 code: ARG). Were also used gold coins from 2.5 to 5 pesos, silver coins from 5, 10, 20 and 50 centavos to one peso, and coins of 1 and 2 centavos in copper.
Peso moneda nacional (1881–1970)
The Argentine peso (symbol = $m/n or m$n, ISO 4217 code = ARM) is the currency of Argentina from November 5, 1881 with the introduction of the decimal system with its subdivision into 100 cents, and remained in circulation until January 1, 1970.
The peso o moneda nacional replaced the previous currency at the exchange rate of 1 peso moneda nacional = 8 reales = 1 peso fuerte = 25 pesos moneda corriente. Initially there was a gold coin worth one Argentine peso, silver coins from 1 peso 50, 20 and 10 centavos, and in 1882, bronze coins from 2 to 1 centavos. The silver coin of one peso moneda nacional was known as patacon. However, the economic crisis in 1890 led to the cessation of emissions of silver coins.
At the beginning the peso moneda nacional was convertible at par with a peso oro sellado. The convertibility was initially adopted also to the French franc, with a exchange rate of 1 peso for five francs. In 1883, with the crisis of the Latin Monetary Union, the peso dropped to a value of 2.2 francs, equivalent to 638.7 mg of gold. With the crisis of the gold standard in 1914, the peso was linked to the US dollar in 1927, with a ratio of 2.36 peso for 1 dollar, changed in 1931 to 1.71 peso for 1 dollar and then 3 pesos to 1 dollar in 1933. From 1934 to 1939, the value of the Argentine peso was linked to the British pound, with a ratio of 15 pesos to 1 pound.
On 28 May 1935, the Central Bank of Argentina was founded (Banco Central de la República Argentina).