2 Pesos Convertibles de Curso Legal 2nd issue

This note belongs to the Convertibles series, issued under Argentina's Convertibility Plan — the 1991 law that pegged the peso one-to-one with the US dollar and prohibited the central bank from printing money beyond its hard currency reserves. The plan held for a decade but collapsed spectacularly in late 2001, triggering the largest sovereign debt default in history at the time, the freezing of bank deposits known as the "corralito," and the resignation of five presidents in two weeks.

Notes from this series were withdrawn rapidly once convertibility ended in January 2002, though the word "Convertibles" remained in the denomination title on circulating notes well into the transition period — an uncomfortable anachronism on paper that was no longer backed by anything.