Argentina currency

BUENOS AIRES, Oct 8 (Reuters) - Argentina will regulate import authorizations more closely in an effort to prevent fraud and preserve reserves of U.S. dollars, Economy Ministry sources said on Saturday. The new system will include verification that the size of an importer's request is consistent with its financial resources; requiring importers to designate only one bank account for foreign trade and more precise timing for importers' purchases of hard currency from the central bank, the sources said. The government will publish a detailed resolution in the coming days and it will take effect on Oct. 17. "This is to bring order to the system and avoid irregularities," said one of the sources familiar with the plan. Given limited central bank reserves of U.S. dollars, the government wants to make sure that hard currency is used for approved imports that increase domestic output. The reserves stand at $36.55 billion, the central bank reported Thursday. In Argentina, the dollar is worth 88% more in Argentine pesos in alternative financial markets than under the official rate, which is used to pay for imports. This entices some importers to overcharge or duplicate authorization requests, said one of the sources. "Given the gap, it is very tempting to access the dollar in the official market, which is why there are schemes to accumulate unnecessary inventory," explained the official, who asked not to be identified. "Some importers improperly try to obtain as many goods as possi...

Argentina's The peso Fuerte and peso Moneda Corriente, issued in 1826, were two older Argentine currencies also known as "pesos." From 1985 to 1991, the austral took the place of the peso; however, in 1992, it was reinstated. The previous official currency of Argentina was the Argentine peso (ARP). It was first launched in June 1983, and after severe hyperinflation and currency devaluation, it was phased out. Its replacement, the austral (ASA), was not introduced until 1992. It was then replaced by Argentina's current Argentina's national currency, the Argentine peso (ARP), is no longer used. Due to severe currency depreciation and hyperinflation, it was replaced in 1985. Argentina's national currency has changed several times since the ARP days, owing to persistent inflation and other persistent economic problems. History Argentina's currency has had a turbulent history, marked by extreme depreciation and runaway hyperinflation. This has resulted in a series of currency reforms in recent Argentine history, as successive governments sought to preserve the country's purchasing power. Historically, Argentine currency was made up of gold and silver Spanish coinage circulated during the colonial period in the 1700s. These coins were distributed in Argentina and neighboring countries until the late 1800s. The first convertible paper money, the peso Fuerte, was issued in 1826. (ARF). This new currency could be converted to Spanish gold at a 17 pesos per Spanish ounce rate. It di...

361 shares • 334 • • 27 • • When I first arrived in Argentina in 2010, a peso could get a medialuna (my personal fatty benchmark for inflation). Today you’ll need 90, minimum, for one buttery treat. To say money in Argentina is complicated would be putting it mildly. Inflation here is no joke and the volatility in the economy isn’t something that most North Americans or Europeans are used to. There are times when travel to Argentina is very expensive and other times, like right now (written in 2023) that it is VERY affordable for those coming from the Northern Hemisphere. Why? Well, keep reading to find out. This article includes everything you need to know about travel and money in Argentina. You’ll find this article useful whether you’re here on holiday or plan on What is the dollar blue? Where to exchange money in Buenos Aires and get the best rate? In this post: • • • • • • • • • • • • • Currency in Argentina: The Peso vs. The Dollar The official currency in Argentina is the Argentinian Peso. It’s often denoted also with the same sign as the dollar, $, which is differentiated as U$100 vs $100 [Pesos]. And while the peso is the official currency here, Argentines have always maintained an ongoing love affair with the US dollar. A volatile economy pushes many to “invest” in US dollars as a way to keep their savings stable and safe from inflation. This puts an unhealthy and unnatural demand on foreign currency and depreciates the peso. The current president has imposed str...

Brazil's President Luiz Inacio Lula da Silva and Argentina's President Alberto Fernandez attend a bilateral agreement signing ceremony, during Lula da Silva's first official visit abroad since his inauguration, at the Casa Rosada presidential palace in Buenos Aires, Argentina, January 23, 2023. REUTERS/Agustin Marcarian BRASILIA, Jan 23 (Reuters) - Brazil and Argentina sparked some excitement on Sunday over the possibility of a potential " WHAT DID THEY SAY? In a joint letter, new Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said they wanted to "advance discussions on a common South American currency" to be used for financial and trade flows. That sparked off chatter about a European Union-style zonal currency for South America, though officials have since played that down and analysts say a full-on currency union is a distant prospect. Lula has since said that early talks are focused on developing a shared unit of value for Brazil's Executive Secretary of the Finance Ministry, Gabriel Galipolo, told Reuters that the "regional unit of account" would come alongside expanded credit to support exports to Argentina through banks that operate in the country. He said that Brazil's government would offer guarantees to banks that helped provide financing, while Argentina, a major grains exporter, would have to provide collateral via hard assets like grains, gas or oil. SO NO SOUTH AMERICAN EURO? Under the plan, the Brazilian real and Argenti...

Argentina is the second-largest country in South Americ a and has one of the most significant economies in the world. The Spanish-speaking nation is bordered by Brazil, Bolivia, Chile, Paraguay, Uruguay and the South Atlantic Ocean. It is a country with a rich history, a vibrant culture and an important role to play in the world of international finance. If you’re thinking about travelling to Argentina or you want to send money to your loved ones based in the country, then you may have a Below you’ll learn about: • • • • • • What is the local currency of Argentina? The currency of Argentina is called the Argentine peso. The Central Bank of the Argentine Republic controls, issues and monitors the Argentine peso and plays a major regulatory role in the economy of the country. The peso has been around for many years and has taken many different forms. Unfortunately, in the latter period of the 20th century the Argentine peso suffered serious devaluation. In 2021, officials noted that the Argentine peso had reached over 51% year-on-year inflation. In Spanish the currency is called Peso argentino. How is the Argentine peso recognised? Like many currencies around the world the symbol used to identify the Argentine peso is ‘$’ (the dollar, or peso, sign). The currency is internationally recognised by the code: “ARS”. The Argentine peso is only used as the primary currency in Argentina, although it can be found in large amounts in neighbouring countries like Brazil, Chile and Para...