• "Pesification" The Argentine Way
  • December 31, 2004 | Author: Esteban R. Ymaz Cossio
  • Law Firm: Ymaz, Abogados, Estudio - Buenos Aires Office
  • By enacting Law 23928 on March 27, 1991, the Argentine Republic changed the legal convertibility of its currency, at the time called "austral". It did not define the new currency -- as on a previous occasion -- in terms of the gold standard, but pegging it to a foreign legal tender, the US dollar (art. 1).