The lowdown on the Argentine Peso: currency currently unavailable
Argentina Exchange Rate Economical Influences
If you are considering converting AUD to ARS, it is good to get a snapshot on how the economy of the country you are planning to visit may influences the Argentine exchange rate.
Argentina is one of the largest South American economies and part of the G20 economies. Recent times, the country is going through some significant economic reforms, which has resulted in rising interest rates and volatility of the Peso. The Argentine government hopes to stabilize the fluctuation and weakening of the Peso and return healthy growth to the economy over the next few years.
The stability of the Peso is integral to its export economy with manufacturing being a significant contributor to their GDP.
The Argentine Peso was pegged to the USD in 1992 at a rate of 1 USD for 1 Argentine Peso initially to stimulate economic growth and reduce hyperinflation. Although this system produced positive results initially, it was not sustainable and hence the agreement expired in 2001. Since then, the Argentine Peso has been fluctuating substantially.
Argentina Historical Exchange Rate
The highest AUD to ARS conversion exchange rate in 2018 was 1 AUD for 21.5166 Argentine Peso on the 29th of June 2018. The lowest rate was 1 AUD for 14.4071 Argentine Peso on the 3rd January 2018. The Argentine Peso has continued to weaken in 2018 as the Central Bank of Argentina announced during May a change in strategy to protect its currency and allowing the peso to drop in value in the short-term and return a strengthened Peso in the long term.
Exchange rates last updated Sunday, 07 June 2020 11:34:41 AM AEST. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
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