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About the Argentine Peso (ARS)
What Is the Argentine Peso (ARS)?
The Argentine Peso (ARS) is the official currency of Argentina, a country with a rich and complex economic history. The peso, symbolized by "$" and subdivided into 100 centavos, has undergone several transformations and revaluations over the years. The current version, known as the peso convertible, was introduced in 1992. The Argentine Peso is the sole legal tender in Argentina, and it is used for all transactions within the country.
The Argentine Peso is issued by the Central Bank of the Argentine Republic (Banco Central de la República Argentina). The Central Bank is responsible for regulating the currency and implementing monetary policy in Argentina, including the issuance of banknotes and coins. This role includes managing the country's foreign exchange reserves, setting interest rates, and working to maintain financial stability in the country.
What Is the History of ARS?
The peso has been Argentina's currency since its independence. Initially, Argentina used Spanish reales, Portuguese escudos, and its own soles. The first official pesos, the peso fuerte and peso moneda corriente, were introduced in 1826. The peso moneda nacional replaced these in 1881. The peso ley replaced the peso moneda nacional in 1970, followed by the peso argentino in 1983, and the austral in 1985. Each change reflected the country's ongoing economic challenges, including hyperinflation. In 1992, the peso convertible emerged, initially with a 1:1 parity with the U.S. dollar. This parity was maintained until early 2002, after which the peso's value declined significantly.
Notes and Coins of ARS
Coins are issued in denominations of 1, 5, 10, 25, and 50 centavos, and 1, 2, 5, and 10 pesos. Banknotes come in 1, 2, 5, 10, 20, 50, 100, 200, 500, and 1,000 pesos. Commemorative coins and banknotes have been issued to celebrate various historic figures and events.
Economic Challenges
Argentina's economy has been marked by high inflation rates and economic recessions. The early 2000s saw massive capital flight, leading to bank account freezes and a default on $65 billion in debt. Despite abundant natural resources and a skilled labor force, Argentina has struggled with inflation, income inequality, and poverty. In recent years, Argentinians have increasingly turned to cryptocurrencies like Bitcoin as a hedge against inflation.
Is ARS Pegged to USD?
The Argentine Peso (ARS) is not pegged to the United States Dollar (USD). The peso was pegged to the USD at a 1:1 parity under the Convertibility Plan from 1991 until early 2002. This plan was part of an effort to stabilize the Argentine economy and curb hyperinflation.
However, this peg was abandoned in 2002 following a severe economic crisis that led to a significant devaluation of the peso. Since then, the ARS has been a floating currency, meaning its value is determined by market forces and can fluctuate based on factors such as inflation, economic policies, and investor confidence.
Is ARS a Stable Currency?
The Argentine Peso (ARS) is not considered a stable currency, primarily due to its long history of high inflation and economic volatility. As of late 2020, the official exchange rate was approximately 83 pesos to 1 USD, but the black market rate was nearly double that figure. By 2023, the situation had further deteriorated, with the official exchange rate reaching 350 pesos to the dollar, and over 720 pesos on unregulated markets. As of January 2024, the official exchange rate was approximately 800 pesos to 1 USD. This rapid devaluation and the wide gap between official and unofficial exchange rates reflect the peso's instability. These factors contribute to the perception of the Argentine Peso as an unstable currency in the global financial landscape.
NORD to MKD conversion rate trend
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Current NORD to MKD exchange rate
Nord Finance to Argentine Peso is falling this week.NORD to MKD Conversion tables
The exchange rate of Nord Finance is decreasing.NORD to MKD
MKD to NORD
NORD to MKD Today vs. 24 hours ago
Amount | 16:42 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 NORD | ден0.2338 | ден0.2430 | -3.80% |
1 NORD | ден0.4676 | ден0.4861 | -3.80% |
5 NORD | ден2.34 | ден2.43 | -3.80% |
10 NORD | ден4.68 | ден4.86 | -3.80% |
50 NORD | ден23.38 | ден24.3 | -3.80% |
100 NORD | ден46.76 | ден48.61 | -3.80% |
500 NORD | ден233.8 | ден243.05 | -3.80% |
1000 NORD | ден467.6 | ден486.1 | -3.80% |
NORD to MKD Today vs. 1 month ago
Amount | 16:42 today | 1 month ago | 1M change |
---|---|---|---|
0.5 NORD | ден0.2338 | ден0.3080 | -24.06% |
1 NORD | ден0.4676 | ден0.6160 | -24.06% |
5 NORD | ден2.34 | ден3.08 | -24.06% |
10 NORD | ден4.68 | ден6.16 | -24.06% |
50 NORD | ден23.38 | ден30.8 | -24.06% |
100 NORD | ден46.76 | ден61.6 | -24.06% |
500 NORD | ден233.8 | ден307.99 | -24.06% |
1000 NORD | ден467.6 | ден615.98 | -24.06% |
NORD to MKD Today vs. 1 year ago
Amount | 16:42 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 NORD | ден0.2338 | ден4.88 | -95.20% |
1 NORD | ден0.4676 | ден9.76 | -95.20% |
5 NORD | ден2.34 | ден48.78 | -95.20% |
10 NORD | ден4.68 | ден97.56 | -95.20% |
50 NORD | ден23.38 | ден487.8 | -95.20% |
100 NORD | ден46.76 | ден975.6 | -95.20% |
500 NORD | ден233.8 | ден4,877.99 | -95.20% |
1000 NORD | ден467.6 | ден9,755.97 | -95.20% |
How to convert NORD to MKD



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