ozstamps states:
The Peso has been 1=1 for about 20 years now as I recall, and mutters of devaluation have been around that long.
Your memory is a little
fuzzy again, my friend, the "peso" has been devalued by a factor of 10 million since 1985!
Currency and Banking
Formerly, Argentina's monetary system was based on the peso oro (Spanish _gold peso_), although no gold coins actually circulated. The peso moneda nacional (called the paper peso and consisting of 100 centavos) was the currency in use. Rampant inflation in the 1970s and early 1980s rapidly depreciated the value of the peso, and in June 1985 a new currency, the austral (equal to 1000 pesos), was introduced as part of an ambitious program to control inflation. When this failed, the nuevo peso argentino (now Argentine peso, equal to 10,000 australs) was introduced in January 1992, at an exchange rate of 1 peso = U.S.$1.
http://www.shadow.net/~giorgio/argentina.html
[This message has been edited by Old Gold (edited 04-28-2001).]