ARS 5 | Bank Note | Five Peso | Kae Kae | CurrencyStackerKK | Argentina | South America
5 Argentina 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 dollar currencies. It is subdivided into 100 centavos. Its ISO 4217 code is ARS.
Since the late 20th century, the Argentine peso has experienced a substantial rate of devaluation, reaching over 51% year-on-year inflation rate in 2021.
The official exchange rate for the United States dollar hovered around 3:1 from 2002 to 2008, climbing from 6:1 to 10:1 between 2009 and 2015.
By August 2019, the rate had risen to 60:1 after the market’s reaction to the 2019 Argentine primary elections. By October 2020, the unofficial or freely available rate had risen to 195:1 (ARS to USD).
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