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1000 Australes
| Issuer | Banco Central de la República Argentina |
|---|---|
| Year | 1988-1990 |
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| Composition | Log in to see details |
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| Reference(s) | P#329 |
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|---|---|
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| Reverse description | Allegorical seated figure of Liberty (Progreso) at left center, rendered in fine intaglio, holding an upraised torch in her right hand and resting her left hand on a shield bearing the Argentine coat of arms. The composition is set within an elaborate engraved vignette bordered by ornate scrollwork, against a multicolor guilloche underprint of pink, blue, and green. The large numeral '1000' and denomination 'Mil Australes' appear in intaglio within a ruled panel to the right. |
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| Protection type | Watermark |
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| Comments |
The Austral was introduced in June 1985 as part of the Austral Plan, an attempt by the Alfonsín government to halt hyperinflation by replacing the Peso Argentino at a rate of 1 Austral to 1,000 Pesos. It briefly worked. By 1989 it had catastrophically failed — inflation that year exceeded 3,000%, forcing denominations upward until 10,000 and 500,000 Austral notes became necessary. The 1,000 Austral, once a substantial sum, was rendered near-worthless within months of issue.
The Austral itself was retired in 1992, replaced by the Convertible Peso at 10,000 Australes to 1 Peso — meaning this note's entire series lost eleven zeros against the dollar in under a decade.