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The peso ley (unofficially ARL), usually known as either ''peso'' or, to distinguish it from the earlier ''peso moneda nacional'', informally as ''peso ley'', was the currency of Argentina between January 1, 1970, and May 5, 1983. It was subdivided into 100
The peso ley (unofficially ARL), usually known as either ''peso'' or, to distinguish it from the earlier ''peso moneda nacional'', informally as ''peso ley'', was the currency of Argentina between January 1, 1970, and May 5, 1983. It was subdivided into 100 centavo
The centavo (Spanish language, Spanish and Portuguese language, Portuguese 'one hundredth') is a fractional monetary unit that represents one hundredth of a basic monetary unit in many countries around the world. The term comes from Latin ''centum ...
s. Its symbol was ''$L'', sometimes ''$''. Its name comes from law 18188 which established it, effective April 5, 1969.
History
The peso ley replaced thepeso moneda nacional
The peso moneda nacional (symbol: m$n) was the currency of Argentina from 5 November 1881 to 1 January 1970, the date in which the ''peso ley 18.188'' was issued to the Argentine public. It was subdivided into 100 centavos, with the argentino w ...
at a rate of 100 to 1. It was itself replaced by the peso argentino at a rate of 10,000 to 1.
The history of the various successive Argentine currencies called ''peso'' is detailed in the article on the Argentine peso
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 peso or dollar currencies. It is subdivided into 100 ''centavos''. Its ISO 4 ...
.
Coins
In 1970 coins were introduced in denominations of 1, 5, 10, 20 and 50 centavos. As inflation eroded the currency's value, higher denominations were introduced: 1 peso in 1974, 5 and 10 pesos in 1976, and 50 and 100 pesos in 1978.Centavo
Peso
Banknotes
Banknote
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable instrument, negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand.
Banknotes w ...
s were issued in the following denominations:
See also
*La Década Perdida
"La Década Perdida" ("The Lost Decade") of Latin America is a Spanish term used to describe the economic crisis suffered in Latin America during the 1980s, which continued for some countries into the next decade. In general, the crisis wa ...
(The Lost Decade)
*Latin American debt crisis
The Latin American debt crisis ( es, Crisis de la deuda latinoamericana; pt, Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as ''La Déca ...
References
* * * {{peso Currencies of ArgentinaPeso ley
The peso ley (unofficially ARL), usually known as either ''peso'' or, to distinguish it from the earlier ''peso moneda nacional'', informally as ''peso ley'', was the currency of Argentina between January 1, 1970, and May 5, 1983. It was subdi ...
1970 establishments in Argentina
1983 disestablishments