Argentina: Which peso are we talking about anyway?

When the news broke that Argentina was thinking of merging its currency with that of its neighbour, Brazil, my immediate question was: which Argentine peso?

There is no single Argentine peso. There are multiple official and unofficial exchange rates. The latest tally I saw from credible sources was that there are around 30 different FX exchange rates to the dollar alone.

My favourite is still the ‘Coldplay dollar’, which was used for the UK band’s tour of the country in October 2022. Other recent versions include the ‘Qatar dollar’, which set a specific rate (of Ps300 to the dollar) for all consumption on credit cards in Qatar during the World Cup.

Thanks for your interest in Euromoney!

To unlock this article, enter your e-mail to log in or enquire about access: