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1 Peso
| Issuer | Provincia de Río Negro |
|---|---|
| Year | 1995-1996 |
| Type | Local banknote |
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| Obverse description | The obverse is set against a fine guilloche underprint in blue and ochre tones, with a floral vine motif running along the left margin. The provincial coat of arms appears in red at the upper left, with the large numeral '1' as the central value indicator. Signature lines for the Minister of Finance, Public Works and Services and the Governor appear at the lower right, below the CEDERN – Serie A designation and the issue date. |
|---|---|
| Obverse lettering | Log in to see details |
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| Reverse lettering | CERTIFICADOS DE DEUDA DE LA PROVINCIA DE RIO NEGRO Artículo 1°.- ... (Translation: DEBT CERTIFICATES OF THE PROVINCE OF RIO NEGRO Article 1 .- ...) |
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| Comments |
Río Negro was one of several Argentine provinces that issued its own quasi-currency during the chronic fiscal crises of the 1990s, when provincial governments ran structural deficits that the federal treasury refused to cover and the convertibility regime made peso devaluation impossible. These notes — formally termed "Letras de Cancelación de Deudas" or similar instruments depending on the province — circulated alongside federal currency as de facto wages and supplier payments, accepted by provincial employees under duress rather than by choice.
Casa de Moneda's involvement gave the issue a degree of physical credibility, but that did little to improve its reception. Most provincial paper of this period was redeemed at a discount when it was redeemed at all.