Economic history of Argentina reforms such as open trade. On 1 January 1992, a monetary reform replaced the austral with the peso at a rate of 10,000 australs for 1 peso. The cornerstone of the reform process was a currency board, under which the peso was fixed by law at par to the dollar, and the money supply restricted to the level of hard-currency reserves. A risky policy which meant at a later stage Argentina could not devalue. After a lag, inflation was tamed. With risk of devaluation apparently removed, capital poured in from abroad. GDP growth increased significantly and total employment rose steadily
Currency lads and lasses of illegality, inferior quality, and subordination. By analogy, native-born colonials came to be known as "currency", in contrast to the British-born "sterling". The first reference in print to the native-born being called "currency" was in the "Sydney Gazette" of 13 September 1822, in a letter signed by "Lydia Languish" calling for more social events to be organised for "currency lasses". As applied to people rather money, the term originally had derogatory connotations – by the early 1820s, "currency had stuck for male and female native-born and everyone knew what it implied". However, it was soon reclaimed by the native-born as