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It is also equal, as of the end of 2024, to 4.5 quadrillion 1914-era pesos with the U.S. dollar as reference – an average annual depreciation relative to the dollar of 28% (i.e. an annual increase of the value of the dollar of 39%). [citation needed] Inflation in Argentina
Ramón Báez Figueroa, banker from the Dominican Republic and former President of Banco Intercontinental (BANINTER), charged in 2003 and later sentenced to 10 years in prison for a U.S. $2.2 billion fraud case ($3.8 billion today). The BANINTER Crisis was overwhelming for the small Dominican economy, equivalent to two-thirds of its national budget.
In 1992 a new peso (ISO 4217: ARS) was introduced, referred to as peso convertible since the international exchange rate was fixed by the Central Bank at 1 peso to 1 U.S. dollar, and for every peso convertible circulating, there was a US dollar in the Central Bank's foreign currency reserves. It replaced the austral at a rate of 1 peso = 10,000 ...
The piastre or piaster (English: / p i ˈ æ s t ər /) is any of a number of units of currency. The term originates from the Italian for "thin metal plate". The name was applied to Spanish and Hispanic American pieces of eight, or pesos, by Venetian traders in the Levant in the 16th century. İmage of 50 Turkish piastres (Turkish:50 kuruş).
Slang terms for money often derive from the appearance and features of banknotes or coins, their values, historical associations or the units of currency concerned. Within a language community, some of the slang terms vary in social, ethnic, economic, and geographic strata but others have become the dominant way of referring to the currency and are regarded as mainstream, acceptable language ...
A million bucks isn't what it used to be. Just ask American millionaires, a number of whom say they don't even consider themselves wealthy. To be sure, how far $1 million takes you can depend on a ...
Long before retirement planning became its own mega-industry, inventor Thomas Edison reportedly had this to say about leaving the workforce: "I'll retire the day before my funeral." A century or so...
The resulting central bank bailout spurred a 30% annual inflation and a large increase in poverty. The government was forced to devalue the peso, triggering the collapse of two other banks, and prompting a US$600 million (420 million €) loan package from the International Monetary Fund. [1]