The peso (established as the peso convertible) is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using peso or dollar currencies. It is subdivided into 100 centavos. Its ISO 4217 code is ARS. The Argentine currency has experienced severe inflation, with periods of hyperinflation, since the mid-20th century, with periodic change of the currency to a new version at a rate ranging from 100:1 to 10,000:1. A new peso introduced in 1992 was worth 10,000,000,000,000 (ten trillion) of the pesos in use until 1970. Since the early 21st century, the Argentine peso has experienced further substantial inflation, reaching nearly 100% year-on-year in 2022, the highest since the 1992 introduction of the current peso. The official exchange rate for the United States dollar valued the new peso at one US dollar at its introduction in 1992; it then dropped, hovering around 3:1 from 2002 to 2008, dropping from 6:1 to 10:1 between 2009 and 2015, and continuing to drop. On 3 February 2023 the official government exchange rate was ARS$188 to one US dollar; the unregulated rate valued the peso at about half, with ARS$375=USD$1. There are sometimes multiple official exchange rates for different purposes such as supporting exporters. From Wikipedia
