The current peso replaced the austral at a rate of 1 peso = 10,000 australes. It was also referred to as peso convertible since the international exchange rate was fixed by the Central Bank at 1 peso = 1 U.S. dollar and for every peso convertible circulating, there was a U.S. dollar in the Central Bank"s foreign currency reserves.
The end result of this replacement was that one peso convertible would be worth 10,000,000,000,000 (1013) pesos moneda nacional. However, after the economic debacle of 2001, the fixed exchange rate system was abandoned.
Five years from its issuance, some changes were made to this line, including improved engravings, a higher g/m2 ratio (90g/m2) paper, and the inclusion of a cylindrical mould watermark reproducing the banknote portrait in the same direction.
On March 19, 2003, The Central Bank of Argentine Republic (Banco Central de la Republica Argentina) authorized the elimination of the term "convertibles" on circulating banknotes. This action was established by Law 25.561, dated January 7, 2002, which in Article 3 repeals articles 1 and 2 of the Law of Convertibility (Ley de Convertibilidad, no. 23,928, dated March 27, 1991. Said decisions are due to the articles 1 and 2 of the already mentioned Convertibility Law that specified that the peso be convertible into American Dollars with the parity of one to one.
Issues 1992
Issues 1997
Issues 2002
Commemorative Issues
Wildlife and the Argentine Regions
Historical heroes and heroines