Until Jan 2002, the Argetinian peso was artificially pegged to the US dollar - 1 Argentian peso = 1USD. When they ended that in Jan 2002 after they defaulted on their IMF debt, the peso dropped to 27 cents USD within 3 weeks.yeah, that is kinda what I figured. but this sounds like it is more than just a loan, Argentia will apparently be adopting the US dollar as its main currency, not the dual system it has now.
that has some pretty major implications for Argentina.
1 Argentian peso currently equals 0.000731192 USD, so it takes 1,367.6291 Argentian pesos to equal 1 US dollar.