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1 Peso Convertibles de Curso Legal 1st issue
| Issuer | Banco Central de la República Argentina |
|---|---|
| Year | 1992-1994 |
| Type | Standard circulation banknote |
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| Obverse description | Portrait vignette of Carlos Pellegrini, President of Argentina from 1890 to 1892 and founder of the Banco de la Nación Argentina, positioned at centre-right against a fine guilloche underprint. The bank title and denomination appear in intaglio lettering, with the subject's name inscribed below the portrait. |
|---|---|
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| Reverse description | A detailed intaglio vignette of the Palacio del Congreso Nacional occupies the left and centre of the note, rendered with fine architectural detail beneath a billowing cloud sky. The large numeral "1" appears in shadow-relief at right, with the Argentine national coat of arms in the upper right corner. A multicolour guilloche underprint in pale green, yellow, and rose tones frames the composition throughout. |
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| Comments |
This note entered circulation under the Convertibility Plan introduced by Economy Minister Domingo Cavallo in April 1991, which pegged the Argentine peso one-to-one with the US dollar and stripped the central bank of its ability to print money beyond hard currency reserves. The 1 peso denomination was, in practical terms, legally equivalent to 1 dollar — an arrangement that held for a decade before collapsing catastrophically in 2001–2002.
The "Convertibles de Curso Legal" wording was a statutory requirement, not decoration. Casa de Moneda produced the series domestically, though earlier Argentine issues of the period had relied on foreign contractors — this represented a deliberate return to in-house production following the hyperinflationary chaos of the late 1980s austral issues.