1992 origin
Foundation
The convertible peso replaced the austral in 1992 at 10,000 to 1, initially pegged one-to-one to the US dollar.
Argentine peso did not appear fully formed. The convertible peso replaced the austral in 1992 at 10,000 to 1, initially pegged one-to-one to the US dollar.
Later reforms — decimalisation, central-bank charters, pegs and floats — matter as much as the founding date for how the unit behaves now.
Where it began
1992Buenos Aires
The convertible peso replaced the austral in 1992 at 10,000 to 1, initially pegged one-to-one to the US dollar.
Timeline
1992Convertibility
1:1 dollar peg under Cavallo.
2001Collapse
Corralito and end of convertibility.
2002Float & default
Peso crashes; sovereign default.
2011Controls
Tightening FX restrictions (cepo).
2015Lift cepo
Macri loosens controls.
2018IMF return
Large programme amid selloff.
2019Controls back
FX restrictions return.
2020Restructuring
Debt deals under pandemic.
2023Election
Regime debate over dollarisation.
2024Shock therapy
New government's FX and fiscal turn.
The eras
Classical period
Establishment
Argentine peso became embedded in trade, tax and daily prices in its core territory.
Twentieth century
Modernisation
Central banking, note series and FX regimes modernised how the unit worked.
Late century shocks
Stress & reform
Crises and reforms redefined convertibility, pegs or floats.
Today
Digital era
Cards, instant payments and CBDC debates reshape how balances move.
Major reforms
Founding statute
1992Legal creation or major restatement of Argentine peso as a unit of account.
Modern central bank framework
20th c.BCRA (or its predecessor) took primary responsibility for note issue and monetary stability.
FX regime shift
late 20th c.Peg, basket or float arrangements were redefined as capital flows and inflation targets evolved.
Understanding Argentine peso starts with its legal birth and the crises that forced redesigns of convertibility and trust.