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Argentina removed 13 zeros from its currency between 1970 and 1992; one modern…

2026-07-17 · 04:28 UTC ·@aakashgupta ·1 min read

Brief

Argentina's peso has been redenominated repeatedly (13 zeros removed between 1970–1992), so a long linear MAX chart exaggerates past collapses and hides recent dynamics. The author argues the steep inflation phase ended ~2024; inflation fell from ~300% peak to ~33.5%, the peso floats near 1,487/USD with ~0.4% weekly volatility under a $20B IMF program, but it remains a poor store of value and many prices persist in dollars.

Why it matters

Argentina removed 13 zeros from its currency between 1970 and 1992; one modern peso equals 10 trillion of the original pesos.

Key details

  • A MAX linear 'peso goes to zero' chart is misleading: the flatline is a resolution artifact — on a log scale the steep inflation phase ended about two years ago.
  • Key current metrics: annual inflation peaked near 300% in early 2024 and is now ~33.5%; the peso trades around 1,487 per USD with weekly volatility ~0.4%; currency bands were scrapped in April 2025 and the peso has floated under a $20B IMF program, though Argentines still price major assets in dollars.
Source evidence

Argentina deleted 13 zeros from its currency between 1970 and 1992. One modern peso equals 10 trillion of the originals. Which is why the funniest thing about a "peso goes to zero" chart in 2026 is the timing: the peso is currently the most boring it's been in a generation.

Every long-term chart of a high-inflation currency looks exactly like this. A cliff, then a flatline. The flatline isn't stability, it's the resolution of a linear axis. Once a currency loses 90%, every subsequent move gets crushed into pixels. Put the same data on a log scale and the actual story appears: the steep part ended two years ago.

Here's what the flatline is hiding. Annual inflation peaked near 300% in early 2024. It's 33.5% now. The peso trades around 1,487 to the dollar with weekly volatility of about 0.4%, tighter than some G20 currencies. Argentina scrapped its currency bands in April 2025, let the peso float against a $20B IMF program, and the float held.

None of this means the peso is a good savings vehicle. Argentines still price apartments in dollars, and 33% inflation would be a five-alarm crisis anywhere else. But a MAX chart on a linear axis is a machine for telling you about 2002 and 2018 while looking like it's telling you about today.

The crash on that chart is real. It's also already over. Reading it as breaking news is like pulling up a 20-year chart of Blockbuster in 2026 and announcing the DVD market is collapsing.

NoLimit (@NoLimitGains)

Argentina's Peso is officially worthless.

— https://nitter.net/NoLimitGains/status/2076649884510294475#m