1 Peso

The Chaco peso is one of dozens of provincial quasi-currencies that proliferated across Argentina during the 2001–2002 convertibility collapse, when provincial governments, cut off from federal transfers and unable to print pesos, began issuing their own interest-bearing bonds as de facto wages and payment instruments. Chaco was among the poorer northern provinces, chronically dependent on federal co-participation funds, which made the crisis hit harder and faster there than in wealthier districts.

Casa de Moneda's involvement gave these notes physical credibility they might otherwise have lacked — the same facility that printed official Argentine currency was now producing provincial scrip, a peculiar institutional irony that was never lost on the public using them.