Thread Rating:

Nareed
Nareed
Joined: Nov 11, 2009
  • Threads: 373
  • Posts: 11413
February 9th, 2012 at 8:15:40 AM permalink
Quote: Wizard

When I was there I think I saw a 1,000,000 peso bill from a prior version of the peso at an antique store in the San Telmo neighborhood.



Did you buy one for a souvenir? you need to be careful with that. I once nearly bought an Israeli Lyra for far more than it was worth.

Quote:

What they did, to avoid having too many zeros, was to introduce different types of pesos. They might say that 1,000 of peso X would equal one peso Y. They went through several of such peso upgrades. I'm sure YoRoll11 can speak to this much better than I can.



I think they renamed the currency, too.

In Mexico in 93 we got "Nuevos pesos," which were the same notes, but with trhee zeroes chopped off. Then some years later the "Nuevo" prefix was dropped. That has worked reasonably well. of course, the Dollar was wirth about 3.50 in 93 and it's now at around 13.... But still far from the 3,500 level before the "reform."

I held on to a few old peso notes, too. They're demonetized, but the central bank will exchange them at face value. meaning my 5,000 peso note is worth 5 pesos. Of course I value them as collectibles. I never really collected currency, but I have a small colelction of coins and notes.
Donald Trump is a fucking criminal
Wizard
Administrator
Wizard 
Joined: Oct 14, 2009
  • Threads: 1390
  • Posts: 23425
February 9th, 2012 at 8:42:59 AM permalink
Quote: Nareed

Did you buy one for a souvenir? you need to be careful with that. I once nearly bought an Israeli Lyra for far more than it was worth.



I did not. I already have bills from I think Cambodia and Zimbabwe that I think are in the millions. I have a small collection of US paper currency, and a pretty respectable US coin collection, but never got into foreign notes or coins.
It's not whether you win or lose; it's whether or not you had a good bet.
pacomartin
pacomartin
Joined: Jan 14, 2010
  • Threads: 649
  • Posts: 7895
February 9th, 2012 at 11:24:03 AM permalink
Quote: Nareed

In Mexico in 93 we got "Nuevos pesos," which were the same notes, but with trhee zeroes chopped off. Then some years later the "Nuevo" prefix was dropped. That has worked reasonably well. of course, the Dollar was wirth about 3.50 in 93 and it's now at around 13.... But still far from the 3,500 level before the "reform."


Mexico only had to change their currency one time, and drop three zeros. They used the same faces on the banknotes so they would be recognizable. For a little while they were called "New Pesos", but the "New" was dropped quickly.

Gold and silver pesos, 18811969
The Argentine gold coin from 1875 was the gold peso fuerte, one and two-thirds of a gram of gold of fineness 900, equivalent to one and a half grams of fine gold, defined by law 733 of 1875. This unit was based on that recommended by the European Congress of Economists in Paris in 1867 and adopted by Japan in 1873 (the Argentine 5 peso fuerte coin was equivalent to the Japanese 5 yen).[3]
The monetary system before 1881 has been described as "anarchistic" (anarquía monetaria).[3] Law 1130 of 1881 put an end to this; it established the monetary unit as the peso oro sellado ("stamped gold peso", ISO 4217: ARG), a coin of 1.612 grams of gold of fineness 900 (90%), and the silver peso, 25 g of silver of fineness 900.[3] Gold coins of 5 and 2.5 pesos were to be used, silver coins of one peso and 50, 20, 10 and 5 centavos, and copper coins of 2 and 1 centavos.
[edit]Peso moneda nacional, 18811969


Argentina changed several times.
In 1881 the paper peso moneda nacional (national currency, (m$n or $m/n) to replace gold. Convertibility was maintained off and on, with decreasing value in gold, until it was finally abandoned in 1929, when m$n 2.2727 was equivalent to one peso oro.

Peso ley, 19701983
The peso ley , replaced the previous currency at a rate of 1 peso ley to 100 pesos moneda nacional.

Peso argentino, 19831985
The peso argentino replaced the previous currency at a rate of 1 peso argentino to 10,000 pesos ley (1 million pesos m$n). The currency was born soon after the return of democracy. However, it rapidly lost its purchasing power and was devalued several times.

Austral, 19851991
The austral replaced the peso argentino at a rate of 1 austral to 1000 pesos. During the period of circulation of the austral, Argentina suffered from hyperinflation. The last months of President Raul Alfonsín's period in office in 1989 saw prices move up constantly (200% in July alone), with a consequent fall in the value of the currency. Emergency notes of 10,000, 50,000 and 500,000 australes were issued, and provincial administrations issued their own currency for the first time in decades. The value of the currency stabilized soon after President Carlos Menem was elected.

Peso convertible, from 1992
The current peso replaced the austral at a rate of 1 peso = 10,000 australes (ten trillion pesos m$n). It was also referred to as peso convertible since the international exchange rate was fixed by the Central Bank at 1 peso to 1 U.S. dollar and for every peso convertible circulating, there was a U.S. dollar in the Central Bank's foreign currency reserves.

However, after the financial crisis of 2001, the fixed exchange rate system was abandoned.
Wizard
Administrator
Wizard 
Joined: Oct 14, 2009
  • Threads: 1390
  • Posts: 23425
February 9th, 2012 at 11:52:14 AM permalink
So, one current peso is worth 10,000,000,000,000 pesos leyes.
It's not whether you win or lose; it's whether or not you had a good bet.
YoDiceRoll11
YoDiceRoll11
Joined: Jan 9, 2012
  • Threads: 7
  • Posts: 532
February 9th, 2012 at 11:57:55 AM permalink
Quote: Wizard

Yes, you can always say mil milliones, but doesn't it get redundant? With the enormous inflation Argentina has been known to go through, a billion pesos might have been quite achievable.



Hmmm, I'll have to ask the girl when we both get back from work. Yeah I don't think there is a word for billion. The Argentinian inflation stories are crazy, banks stealing money, etc, I've heard some of the stories about the early 2000's, and the 90's. Yikes.
Nareed
Nareed
Joined: Nov 11, 2009
  • Threads: 373
  • Posts: 11413
February 9th, 2012 at 12:01:30 PM permalink
Quote: YoDiceRoll11

Hmmm, I'll have to ask the girl when we both get back from work. Yeah I don't think there is a word for billion. The Argentinean inflation is crazy, I've heard some stories about the early 2000's, and the 90's. Yikes.



From what I've heard it was even worse than the Weimar Republic. With less cause. Germany was paying reparations to the Allies at the time, if memory serves.
Donald Trump is a fucking criminal
pacomartin
pacomartin
Joined: Jan 14, 2010
  • Threads: 649
  • Posts: 7895
February 9th, 2012 at 12:17:49 PM permalink
Quote: Nareed

From what I've heard it was even worse than the Weimar Republic. With less cause. Germany was paying reparations to the Allies at the time, if memory serves.



A 1992 Argentinian peso = 100,000,000,000 pre-1983 Argentinian peso. When Mexican peso lost half it's value (relative to USD in 1993) almost a third of the businesses closed.

When doubling time is in hours or days you know you are completely out of control.

Hungary Hungarian pengő July 1946 15 hours
Zimbabwe Zimbabwe dollar November 24.7 hours
Yugoslavia Yugoslav dinar January 1994 1.4 days
Germany German Papiermark October 1923 3.7 days
Greece Greek drachma October 1944 4.3 days
Taiwan (Republic of China) Old Taiwan dollar May 1949 6.7 days
Wizard
Administrator
Wizard 
Joined: Oct 14, 2009
  • Threads: 1390
  • Posts: 23425
February 9th, 2012 at 3:57:05 PM permalink
Quote: pacomartin

Greece Greek drachma October 1944 4.3 days



Somehow that one doesn't surprise me.
It's not whether you win or lose; it's whether or not you had a good bet.
Wizard
Administrator
Wizard 
Joined: Oct 14, 2009
  • Threads: 1390
  • Posts: 23425
February 9th, 2012 at 4:40:24 PM permalink
Fecha: 9 de Febrero, 2012
Palabar: Acceder


Today's SWD means to agree.

A question for the advanced readers is how does it differ from acordar, which I seem to see/hear much more frequently. It seems to me that acceder is for the situation of agreeing to a request. Perhaps sharing the same root as the English "cede," as in "I cede to your suggestion."

Ejemplo time.

Debido al accidente del carro, accedé a cancelar la apuesta. = Due to the car accident, I would agree to call off the bet.
It's not whether you win or lose; it's whether or not you had a good bet.
pacomartin
pacomartin
Joined: Jan 14, 2010
  • Threads: 649
  • Posts: 7895
February 9th, 2012 at 8:08:48 PM permalink
Quote: Wizard

Today's SWD means to agree.
A question for the advanced readers is how does it differ from acordar, which I seem to see/hear much more frequently. It seems to me that acceder is for the situation of agreeing to a request. Perhaps sharing the same root as the English "cede," as in "I cede to your suggestion."



Of all the related English cognates: "cede,accede, concede, excede ,exceed, intercede, precede, proceed, recede, succeed, & supercede" I think the most appropriate one to use would be I accede to your suggestion".

English accede means "To agree or assent to a proposal or a view"

Acordar is from the Latin "accordare" which includes "cor" or from the "heart". So I imagine "acordar" is a little more emotional than "accedar". It is similar to the English cognate "accord".

Note that "acordarse de" is synonymous with "recordar" since they are variants of "to remember". You can think of remembering as "agreeing with yourself".

  • Jump to: