The term "Argentine monetary unit" refers to the official currency of Argentina, known as the peso. It has been the monetary unit of the country since 1992, replacing the previous currency, also referred to as the peso. This new currency was introduced as a response to hyperinflation and economic instability that Argentina experienced during the late 1980s and early 1990s.
The Argentine monetary unit is denoted by the symbol "$" and is further divided into smaller units called centavos. One peso is equivalent to 100 centavos. The currency is regulated and issued by the Central Bank of Argentina.
As a medium of exchange, the Argentine monetary unit serves to facilitate the economic transactions within the country. It is widely accepted by businesses, both domestically and in certain international transactions.
The value of the Argentine monetary unit fluctuates in relation to other currencies, especially in the foreign exchange market. This exchange rate can be influenced by various factors, such as the level of inflation, interest rates, and the overall economic performance of the country.
The Argentine monetary unit plays a crucial role in the overall economic well-being of Argentina, affecting areas such as trade, investment, and the standard of living. It is subject to government policies and regulations aimed at maintaining stability, fostering economic growth, and controlling inflation.
