DEFINITION of 'ARP (Argentinian peso)'
ARP is the abbreviation, or currency symbol, for the Argentine peso used from 1983 to 1985. In writing, people used the symbol "$a" ahead of the currency amount, much in the same way "$" is used for American dollars. The Central Bank of Argentina regulated the supply of Argentine pesos in circulation.
BREAKING DOWN 'ARP (Argentinian peso)'
This version of the Argentine peso was first seen in 1983 when it replaced the peso ley at a conversion of 1 peso to 10,000 peso ley. The Argentine peso was used soon after democracy arrived but lost its purchasing power after several devaluations. Another name for the currency is peso argentino. The Argentine peso was replaced by the austral in 1985.
The Central Bank of Argentina issued coins in denominations of 1, 5, 10 and 50 pesos in 1984 and 1985. Banknotes were made in 1, 5, 10, 50 and 100 Argentine pesos for the lowest four denominations, while the highest five denominations included banknotes with 500, 1,000, 5,000 and 10,000 pesos. When the austral replaced the Argentine peso, some of the highest denominations of banknotes had the new value of austral printed over them so the central bank did not have to reprint higher values.
Banknotes of the Argentine peso generally depict historical figures on the front with natural scenes, buildings or events on the back. Each banknote with the value of 1 to 1,000 pesos contains a portrait of Gen. Jose de San Martin, the national hero of Argentina who led the revolt against the Spanish, on the front. The 1 peso banknote contains red coloring and Nahuel Huapi Lake on the back. The reverse of the 5 peso note depicts the National Flag Memorial in Rosario. The back of the 10 peso bill has a portrait of Iguazu Falls.
The reverse of the 50 peso banknote shows the Termas de Reyes in the province of Jujuy. The 100 peso piece of currency depicts Ushuaia, the capital of Tierra del Fuego, regarded as the southernmost city in the world. The 500 peso bill has a violet hue, and it depicts a famous painting that represents the meeting of notable Argentinians ahead of the May Revolution. The 1,000 peso piece, the highest denomination with San Martin on the front, has a battle scene from "El Paso de Andes."
On the front of the 5,000 peso note is a portrait of Juan Bautista Alberdi. The reverse shows a painting entitled "Constitutional Meeting of 1853." The 10,000 peso bill shows Manuel Belgrano on the front and the creation of the Argentine national flag on the back. The largest-value banknote of this series has a blue tint.