argentina currency

since the "dirty war" in the 1970's, the economy and currency value in argentina have fluctuated greatly. the goal for the argentine government was to keep the argentine peso at 1 to 1 with the us dollar to promote economic stability.





in 1999, due to the recession, the IMF gave argentina a $40 billion aid package. even with this, the economy continued to fail. and in 2002, the governments goal of keeping the peso at a 1 to 1 with the us dollar was abandoned. after this in 2002, the argentine peso became a free floating currency and lost 60% of its value.





but do to major reforms in the argentine economy, the peso has seen a steady recovery. as an additional effort to increase the strength of the peso, the government has been buying on average $20 million usd per day.

on the graph, it measures the CPI, which shows the inflation at the current time.

http://en.wikipedia.org/wiki/Argentine_economic_crisis_(1999%E2%80%932002)