The peso ley 18.188 (ARY; unofficially ARL; ), usually known as either peso or, to distinguish it from the earlier peso moneda nacional, informally as peso ley, was the currency of Argentina between January 1, 1970, and May 5, 1983. It was subdivided into 100 centavos. Its symbol was $L, sometimes $. Its name comes from law 18188 which established it, effective April 5, 1969.

History The peso ley replaced the peso moneda nacional at a rate of 100 to 1. It was itself replaced by the peso argentino at a rate of 10,000 to 1. It was later replaced by the Argentine peso on May 5th 1983.

Coins In 1970 coins were introduced in denominations of 1, 5, 10, 20 and 50 centavos. As inflation eroded the currency's value, higher denominations were introduced: 1 peso in 1974, 5 and 10 pesos in 1976, and 50 and 100 pesos in 1978.

Centavo Value Obverse Emission start date Withdrawn Composition Diameter 1Liberty 1 Jan 197031 Oct 1979Aluminium 16mm 5 18 May 1970 18mm 10 1 Jan 1970Brass 17mm 20 18 May 1970 19mm 50 1 Jan 1970 21mm

Peso Value Obverse Emission start date Withdrawn Composition Diameter 1 Sun 1 Oct 19742 Jan 1984Aluminium-Brass 23mm 5 Sun 12 Apr 1976 24mm Guillermo Brown 1977 24mm 10 Sun 12 Jul 1976 26mm Guillermo Brown 1977 26mm 50 José de San Martín Bicentennial 1 Aug 1978 27mm Conquest of the Desert centennial 1979 27mmJosé de San Martín 1979 27mm 1980 Brass-Clad Steel 27mm 100 José de San Martín Bicentennial 1 Aug 1978Aluminium-Bronze 28mm Conquest of the Desert centennial 1979 28mmJosé de San Martín 1979 28mm 1980 Brass-Clad Steel 28mm

Banknotes Banknotes were issued in the following denominations:

Obverse Reverse Value Portrait Back Emission start date Withdrawn 1Manuel Belgrano Nahuel Huapi Lake 30 Jan 1970 1 Apr 1981 5 National Flag Memorial in Rosario 24 Nov 1971 10 Iguazu Falls 1 Sep 1970 50José de San Martín Termas de Reyes (Jujuy) 15 Mar 1972 100 Ushuaia 15 Feb 1971 500 Cerro de la Gloria (Mendoza) 30 Nov 19722 Apr 1984 1000 Plaza de Mayo (Buenos Aires) 27 Nov 1973 5000 Mar del Plata 12 Dec 1977 10,000 El Palmar National Park (Entre Ríos) 25 Oct 197619 Jul 1985 50,000 Argentine Central Bank 19 Feb 1979 100,000 National Mint House 1 Nov 1979 500,000 Buenos Aires foundation 28 Jul 1980 1,000,000 May Revolution 25 Nov 1981

See also

La Década Perdida (The Lost Decade) Latin American debt crisis

References