In the domestic front, the Argentina Currency is issued by the monetary authority of the government in two forms and essentially in different denominations. The currencies that are issued in the paper format are called Bank Notes. These bank notes of Argentina Currency are issued in the denominations of two pesos, five pesos, ten pesos, twenty pesos, fifty pesos and hundred pesos.
The other form in which these currencies are made available to the people are the fractions of the Peso. The smallest of them being the one cent coin. One cent coin is the one-hundredth part of a Peso.
It has been found out that due to the high inflation rate, the small denominated Argentina Currency has become outdated especially the One cent coin. The other denominations in which currencies are available in the coin form include five cents, ten cents, twenty five cents, fifty cents and hundred cents (or one Peso).
Argentina Currency had a pegged relationship with the US dollar which was effective between the period 01.04.1991 to 06.01.2002. This pegged currency regime was done away with at the very beginning of the year 2002.
Evidently, after 2002, high degrees of fluctuation can be observed in the price of Peso in relation to US Dollars. But at the time of pegged Argentina Currency regime, the rate of exchange between the domestic Argentine currency and the North American currency were at par value, that is, a person can obtain one Australian Peso by exchanging one US dollar.
Though the coin with the denomination of one peso exists in the market, it is hardly being used by the residents of Argentina for transaction purposes.
Argentina Currency followed a pegged currency regime till the financial year 2002. So till this time the Argentine Peso had an exchange rate of One Peso to be equal to that of one US Dollar. This pegged currency rate was determined by the domestic law of Argentina known as Law Of Conversion. This pegged currency regime was effective during the period starting from 01.04.1991 and ending on 06.01.2002.
The Argentina Currency policy characterized by pegged regime started to face problems from the last part of the 1990s when it was found out that the domestic Peso was highly over-valued. This phenomenon naturally made the exports situation worse because of the over-valued domestic currency. The ultimate effect of such a condition led Argentina to the recessionary phase.
The change in Argentina Currency policy came in the first month of the year 2002 when it was decided that the pegged regime would be replaced by a floating exchange rate one. Thus, in the recent times it has been observed that the Argentina Currency in relation to the other currencies fluctuate on a daily basis.
