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Buenos Aires Times | Mightier than the dollar

Mount Equity Group Tokyo, Japan > News > Markets > Buenos Aires Times | Mightier than the dollar

With the “blue” greenback hitting record levels for this year at least in a country sinking ever deeper into the red (with every chance of soon eclipsing last spring’s all-time peaks), it might surprise some readers to learn that once upon a time Argentina’s currency could look down on the almighty dollar along with pound sterling and very few other coinages in a pre-euro world – and yet incredibly enough, back in mid-1985 you did not even need all of a newly-minted austral to purchase one whole banknote bearing George Washington’s portrait (just 80 cents sufficed). It might also surprise many readers to learn that there were ever times when Argentina’s currency was not called what is fast becoming a four-letter word – namely, peso – but the austral was this country’s official denomination for 70 months between 1985 and 1991. All the work of the former economy minister Juan Vital Sourrouille, who would have…

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