After Brazil, Argentina is the largest country in South America. Rich in natural resources, Argentina is a place of contrasts. Here modernity and history clash and the gaps between poverty and wealth create a very human atmosphere. There is the Pampas and Buenos Aires, the touristy Tigre and the mountainous Sierras de Córdoba. Argentina’s currency is the peso. Its ISO designation is ARS. Currently, 100 centavos are equal to 1 peso.
History
The Spaniards first explored the country in 1515. Juan Diàz de Solis headed the first exhibition, but no settlement succeeded until later. The Spanish placed the new country under the management of Peru. It was not until 1776 it gained a measure of independence by forming the Viceroyalty of the River Plate. This also saw the circulation of Spanish coins mostly originating in Mexico. With the proliferation of illicit trading in the country, the amount began to increase.
In 1810, a junta of Argentinian patriots ceased control of the country. They also marched to free Bolivia and Chile. One result from 1813 to 1815 was the production of coinage stamped “Provinces of the River Plate” from a mint at Potosí. There was, however, no central organization of the united countries coinage. At this time the United Provinces of the River Plate included Argentina, Paraguay and Uruguay. Coins sported the sunface and arms of Argentina from 1813 to around the 1830s. Yet, there were also Spanish colonial coins still being issued bearing the countries’ own names and designs.
The first decimal coinage arrive in 1881. By then, all provinces in Argentina had united as a republic (1862). The new coinage consisted of pesos and centavos with 100 centavos equal to one peso. The argentine coin at the time made up 5 pesos. In 1896, 5, 10 and 20 centavos of cupro-nickel appeared and the small bronze and larger silver and gold coins vanished, discontinued by the mint. Design changes occurred during this period as well.
The modern era saw further changes in design and worth. In the 1960s, the long-gone Sunface, reappeared in a special edition. Under the military reform of the 1970s, a New peso (peso ley) replaced the old one (peso moneda naacional) at a rate of 100 old pesos to one new one. In fact, several reforms of the coinage took place over the next few decades. As regimes and economic conditions altered, the peso became a target of so-called reforms. The peso argentino, worth 10,000 peso leys appeared in 1983. In 1985, the Austral replaced the peso argentine at a rate of 1 austral to 10,000 peso argentines. This was followed in 1991 by the replacement of the austral by the peso. A fixed rate of 1 peso equals 1 American dollar was put in place. The peso remained, but the fixed rate disappeared with the troubles of the early 2000s. In 2003, the government curbed the appreciation.Today, there are several coins including the 1-peso and the 10, 25 and 50 centavos. Banknotes are $2, 5, 20, 20, 50 and 100.
Obtaining Currency
It is not difficult to obtain pesos in Argentina. There are ATMs and bank machines everywhere in the major cities such as Buenos Aires. Some small towns, however, may not have them. You can also go to banks and currency exchange bureaus. Your hotel may even be able to offer you money exchange. On the streets, there are also moneychangers. Be wary. Their rates may be better, but their money may be suspect.
Protecting Your Currency
Large cities in Argentina are places of opportunistic crime. There are bag snatching gangs and pickpockets. Do not enter La Boca alone. Use common sense.
Using your Currency
You can and should
use your Argentinian money for everything. Use it to pay for
transportation to Plazo de Mayo and the Casa de Gobierno in Buenos
Aires. By necessity, it will help you buy what you want in the small
towns of Las Pampas. Local currency provides you with entry to the
Museo Histórico in Luján. It will help buy souvenirs and pay for your
visit to the children’s village of the República de los Niños just
north west of La Plata. It can also help you if you wander off to view
the popular tourist attraction of Iguazú Falls.
Travel tips and Warnings
- Watch your pockets and wallet in some of the larger cities
- Be sure to visit the Iguazú Falls as well as the urban centers of Buenos Aires and the small towns of the Pampas.
- Enjoy the mountain landscape of the Andes range.
- Visit the resorts of the Atlantic coast, including the fashionable Pinamar and Cariló and the once popular and older Mardel Plata.
- Do not neglect the Museums. Go to the Archeological museum of the University of San Juan in San Juan and the Museo de los Presidentes in Buenos Aires.
- Purchase some excellent silver work from the 19th century town of San Antonio de Areco
- Admire the very large candelabra cacti in Los Cardones National Park and the historic buildings of Córdoba.
Overview
Argentina
is the second largest country in South America. It is a country of
contrasts, including those between the rich and the poor. A visit there
can provide you with entertainment, amusement, culture, history and a
chance to enjoy some of the world’s most beautiful natural beauties.
For travel information see http://www.lonelyplanet.com/worldguide/argentina/.
Currency Summary
Current currency: pesos
1 peso equals 100 centavos
Coins: 5, 10, 25, 50 centavos, 1 pesos
Banknotes: 2, 5, 10, 20, 50, 100 pesos