Obbligazione Argentia 3.75% ( US040114GK09 ) in USD

Emittente Argentia
Prezzo di mercato refresh price now   100 USD  ▲ 
Paese  Argentina
Codice isin  US040114GK09 ( in USD )
Tasso d'interesse 3.75% per anno ( pagato 2 volte l'anno) - Obbligazione è in default, i pagamenti sono sospes
Scadenza 29/12/2038



Prospetto opuscolo dell'obbligazione Argentina US040114GK09 en USD 3.75%, scadenza 29/12/2038


Importo minimo 1 USD
Importo totale 5 296 689 200 USD
Cusip 040114GK0
Standard & Poor's ( S&P ) rating N/A
Moody's rating N/A
Coupon successivo 30/03/2026 ( In 152 giorni )
Descrizione dettagliata L'Argentina, seconda nazione sudamericana per estensione, affascina con la sua cultura ricca di tango e tradizione gaucha, i suoi paesaggi mozzafiato che vanno dalle cime andine alle vaste pampas e alla selvaggia Patagonia, e una storia complessa che ne plasma l'identità.

The Obbligazione issued by Argentia ( Argentina ) , in USD, with the ISIN code US040114GK09, pays a coupon of 3.75% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is 29/12/2038







LUXEMBOURG ADDENDUM
(to the Prospectus Supplement Dated January 10, 2005)





The Republic of Argentina

The Republic of Argentina ("Argentina") has prepared this Luxembourg addendum (this
"Addendum") to the prospectus supplement dated January 10, 2005 (the "Prospectus Supplement") with
respect to Argentina's offer to the owners of each series of bonds listed in Annex A to the Prospectus
Supplement (collectively, the "Eligible Securities") to exchange their Eligible Securities for new securities
upon the terms and subject to the conditions set forth in the Prospectus Supplement.
This Addendum should be read together with the Prospectus Supplement and the accompanying
prospectus dated December 27, 2005 (the "Base Prospectus"). This Addendum supplements the information
contained in the Prospectus Supplement and, therefore, references in the Prospectus Supplement to the
Prospectus Supplement refer to the Prospectus Supplement as supplemented by this Addendum.
Capitalized terms used in this Addendum but not defined herein, have the meaning assigned to them
in the Prospectus Supplement.


Application has been made to list each series of the Pars, Discounts and GDP-linked Securities on the
Luxembourg Stock Exchange, and application will be made to list each series of the New Securities on the Buenos
Aires Stock Exchange and on the Mercado Abierto Electrónico. Argentina intends to make an application to list
each series of U.S. dollar- or euro-denominated Pars, Discounts and GDP-linked Securities on a regulated market
organized and managed by Borsa Italiana S.p.A., provided all requirements for such listing are met. See "Plan of
Distribution" in the Base Prospectus.


The international joint dealer managers for the Offer are:
Barclays Capital
Merrill Lynch & Co.
UBS Investment Bank

The date of this Addendum is January 10, 2005.







Argentina is furnishing this Addendum to you solely for use in the context of the Offer and for
Luxembourg listing purposes. After having made all reasonable queries, Argentina confirms that:
· the information contained in this Addendum is true and correct in all material respects and is not
misleading as of December 27, 2004;
· it holds the opinions and intentions expressed in this Addendum;
· to the best of its knowledge and belief, it has not omitted other facts, the omission of which makes this
Addendum, together with the Prospectus Supplement and the Base Prospectus, as a whole, misleading
as of December 27, 2004; and
· it accepts responsibility for the information it has provided in this Addendum.
In the discussion below, references to "we," "our" or "us" are to Argentina.
Expected Economic Results for 2004
The information set forth below reflects our expectations with respect to Argentina's economic
performance during 2004. While we believe that these expectations were reasonable as of December 27, 2004, we
can offer no assurance that actual results will not differ materially from the figures set forth below, since actual
results will depend in large part on factors that are beyond our control or significant influence. See "Forward
Looking Statements" in the Base Prospectus.
Based on currently available data, we project Argentina's Gross Domestic Product (GDP) to grow by 6.5%
in 2004, reflecting growth in both gross investment and consumption during the course of the year.
We expect exports to continue to grow during the second half of 2004, due mainly to growth of Argentina's
principal export markets (especially Brazil and Asia), the increased competitiveness of Argentina's industry, and
rising international commodities prices. Likewise, we expect an increase in imports during the second half of 2004,
stimulated by rising levels of domestic demand.
By year-end 2004, we expect the consumer price index to have increased by 6.3%, as compared to
December 31, 2003. In addition, we expect the Central Bank's international reserves to continue to increase as a
result of the bank's ongoing policy of purchasing foreign currencies in the foreign exchange market.
For 2004, we project a primary surplus for the national non-financial public sector of 2.9% of GDP and an
overall fiscal surplus of 1.3% of GDP.
Ratings

Set forth below is a summary of the most recent credit ratings for Argentina, issued in October or
November 2004, by certain rating agencies:
Standard & Poor's, a division of the McGraw-Hill Companies, Inc. ("Standard and Poor's") currently
assigns to Argentina, as issuer, a rating of "SD" (the twenty-second level of rating on a scale from one to twenty-
three), which indicates that the issuer is in default on certain but not all series of its debt instruments and is therefore
likely to continue to regularly fulfill its payment obligations with respect to those series or classes of debt
instruments on which it is not in default.
Moody's Investors Service, Inc. (Moody's) currently assigns to the long-term indebtedness of Argentina a
rating of "Caa 1" (the seventeenth level of rating on a scale from one to twenty-one) for indebtedness denominated
in currencies other than Argentine pesos, and a rating of "B3" (the sixteenth level of rating on a scale from one to
twenty-one) for indebtedness denominated in Argentine pesos. The "Caa 1" rating indicates a heightened risk of
2






default with respect to principal or interest payments. The "B3" rating indicates securities that are not considered to
be desirable investments. Moody's rating for Argentina's long-term indebtedness (denominated in all currencies) in
of December 2001 was "Ca," indicating highly speculative securities.
Fitch, Inc. ("Fitch") currently assigns to the long-term indebtedness of Argentina a rating of "DDD" (the
twenty-second level of rating on a scale from one to twenty-four) for indebtedness denominated in currencies other
than Argentine pesos, and a rating of "B-" (the sixteenth level of rating on a scale from one to twenty-four) for
indebtedness denominated in pesos. The "DDD" rating indicates defaulted indebtedness. The "B-" rating indicates
highly speculative investments. Fitch's rating for Argentina's long-term indebtedness (denominated in all
currencies) in November 2001 was "C." In January 2003, it changed this rating to "CC." Both of these ratings
indicate a high risk of default.
No rating is presently assigned to any single series of Eligible Securities. Argentina is currently
considering the possibility of requesting credit ratings for the New Securities.
The rating information set forth above was obtained by Argentina from the respective rating agencies.
Argentina had no part in the preparation or determination of this rating information and thus can offer no assurance
that the information is reliable or that it accurately reflects Argentina's ability to service its public indebtedness,
including the New Securities.

3





PROSPECTUS SUPPLEMENT
(to Prospectus Dated December 27, 2004)

The Republic of Argentina
Offers to Owners of
EACH SERIES OF BONDS LISTED IN ANNEX A TO THIS PROSPECTUS SUPPLEMENT
(collectively, the "Eligible Securities")
to exchange Eligible Securities for its
PAR BONDS DUE DECEMBER 2038 ("PARS"),
DISCOUNT BONDS DUE DECEMBER 2033 ("DISCOUNTS"),
QUASI-PAR BONDS DUE DECEMBER 2045 ("QUASI-PARS") AND
GDP-LINKED SECURITIES THAT EXPIRE IN DECEMBER 2035 ("GDP-LINKED SECURITIES")
collectively, the "New Securities," on the terms and conditions described in this prospectus supplement.
The GDP-linked Securities will initially be attached to the Pars, Discounts and Quasi-pars.
The aggregate Eligible Amount (as defined below) of all Eligible Securities currently outstanding is U.S.$81.8 billion, comprising
U.S.$79.7 billion of principal and U.S.$2.1 billion of accrued but unpaid interest as of December 31, 2001, based on exchange rates in
effect on December 31, 2003.
For a discussion of risk factors which you should consider in evaluating this Offer, see "Risk Factors" beginning on page S-29 of this
prospectus supplement and page 17 of the accompanying prospectus.
THE OFFER WILL EXPIRE AT 4:15 P.M. (NEW YORK CITY TIME) ON FEBRUARY 25, 2005, UNLESS
EXTENDED OR EARLIER TERMINATED BY ARGENTINA IN ITS SOLE DISCRETION (THE "EXPIRATION DATE").
ONLY LIMITED WITHDRAWAL RIGHTS WILL BE AVAILABLE AND ALL TENDERS WILL BE IRREVOCABLE
EXCEPT UNDER CERTAIN CIRCUMSTANCES AS DESCRIBED IN THIS PROSPECTUS SUPPLEMENT.

The New Securities, other than those governed by Argentine law, will contain provisions regarding acceleration and future modifications to
their terms that differ from those applicable to substantially all of Argentina's outstanding public external indebtedness. These provisions, which are
commonly referred to as "collective action clauses," are described in the sections entitled "Description of the Securities--Default and Acceleration of
Maturity" and "Description of the Securities--Modifications" in pages 206 and 207, respectively, of the accompanying prospectus. Under those
provisions, modifications affecting certain reserved matters, including modifications to payment and other important terms, may be made to a single
series of New Securities, other than those governed by Argentine law, with the consent of the holders of 75% of the aggregate principal amount
outstanding of that series, and to multiple series of New Securities with the consent of the holders of 85% of the aggregate principal amount
outstanding of all affected series and 66% in aggregate principal amount outstanding of each affected series.

Application has been made to list each series of the Pars, Discounts and GDP-linked Securities on the Luxembourg Stock Exchange, and
application will be made to list each series of the New Securities on the Buenos Aires Stock Exchange and on the Mercado Abierto Electrónico.
Argentina intends to make an application to list each series of U.S. dollar- or euro-denominated Pars, Discounts and GDP-linked Securities on a
regulated market organized and managed by Borsa Italiana S.p.A., provided all requirements for such listing are met. See "Plan of Distribution."
This prospectus supplement and the accompanying prospectus may only be used in the United States, Luxembourg and in the jurisdictions
in which Argentina and the international joint dealer managers are relying either on exemptions from approval by regulatory authorities or approval
of this prospectus supplement and accompanying prospectus on the basis of mutual recognition of the certificate of approval issued by the
Luxembourg Commission de Surveillance du Secteur Financier (which we refer to as the "CSSF"), together with such additional disclosure required
by the regulatory authority in that jurisdiction. Holders of Eligible Securities outside the United States and Luxembourg should carefully read the
sections entitled "Global Offering," "Certain Legal Restrictions" and "Jurisdictional Restrictions" in this prospectus supplement to determine if they
may rely on this prospectus supplement or participate in the Offer.

Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these
securities or passed upon the accuracy or adequacy of this prospectus supplement or the prospectus to which it relates. Any
representation to the contrary is a criminal offense.

The international joint dealer managers for the Offer are:
Barclays Capital
Merrill Lynch & Co.
UBS Investment Bank
The date of this prospectus supplement is January 10, 2005.







In this prospectus supplement, references to "we," "our" and "us" are to Argentina.
This prospectus supplement, the accompanying prospectus and the related acceptance notices are
together referred to as the "Offer Materials." Transactions contemplated by the Offer Materials are referred
to as the "Offer."
A "series" of Eligible Securities refers to each issue of Eligible Securities listed in Annex A to this
prospectus supplement. A "series" of New Securities refers to each issue of New Securities, including GDP-
linked Securities initially attached to each series of Pars, Quasi-pars and Discounts, as described in this
prospectus supplement.
When we refer to the "Par Brady Bonds and Discount Brady Bonds" in this prospectus supplement,
we mean the following series of Eligible Securities:
· Discount USD L + 0.8125% (BR) due 2023,
· Discount USD L + 0.8125% (RG) due 2023,
· PAR Bonds USD 6% (BR) due 2023,
· PAR Bonds USD 6% (RG) due 2023,
· Discount DEM L+ 0.8125% Due 2023, and
· PAR Bonds DEM 5.87% Due 2023.







TABLE OF CONTENTS

Page
PROSPECTUS SUPPLEMENT
Introduction ..........................................................................................................................................................i
Global Offering ....................................................................................................................................................ii
Certain Legal Restrictions ....................................................................................................................................iii
Currency Exchange Rates.....................................................................................................................................iii
Summary Time Schedule For The Offer ..............................................................................................................S-1
Summary...............................................................................................................................................................S-3
Risk Factors ..........................................................................................................................................................S-29
Recent Developments ...........................................................................................................................................S-35
Terms of the Offer ................................................................................................................................................S-37
Description of the New Securities ........................................................................................................................S-61
Clearance and Settlement .....................................................................................................................................S-76
Taxation................................................................................................................................................................S-80
Plan of Distribution ..............................................................................................................................................S-92
Jurisdictional Restrictions.....................................................................................................................................S-96
Forward-Looking Statements ...............................................................................................................................S-103
Validity of the New Securities..............................................................................................................................S-104
General Information .............................................................................................................................................S-105

Annex A ­ Eligible Securities ..............................................................................................................................A-1
Annex B ­ Principal Payment Schedule for U.S. dollar-denominated Pars and Discounts..................................B-1
Annex C ­ Eligible Securities: Additional Information.......................................................................................C-1
Annex D-1 ­ The Chain of a Tender: Eligible Securities Held by a Direct Participant ......................................D-1
Annex D-2 ­ The Chain of a Tender: Eligible Securities Held through a Securities Intermediary .....................D-2
Annex E ­ Sample Calculations Related to Exchange Ratios ..............................................................................E-1
Annex F ­ Sample Calculations Related to Payment on GDP-linked Securities..................................................F-1
Annex G ­ Form of Paper Acceptance Notice......................................................................................................G-1

Prospectus
About This Prospectus..........................................................................................................................................2
Certain Defined Terms and Conventions..............................................................................................................2
Forward-Looking Statements ...............................................................................................................................7
Data Dissemination...............................................................................................................................................7
Use of Proceeds ....................................................................................................................................................7
Selected Economic Information ...........................................................................................................................8
Summary...............................................................................................................................................................9
Risk Factors ..........................................................................................................................................................17
The Republic of Argentina ...................................................................................................................................27
The Argentine Economy.......................................................................................................................................32
Foreign Trade and Balance of Payments ..............................................................................................................68
Monetary System..................................................................................................................................................94
Public Sector Finances..........................................................................................................................................124
Public Sector Debt................................................................................................................................................157
Description of the Securities.................................................................................................................................197
Taxation................................................................................................................................................................213
Plan of Distribution ..............................................................................................................................................215
Official Statements ...............................................................................................................................................217
Validity of the Securities ......................................................................................................................................217
Authorized Representative....................................................................................................................................217
Further Information ..............................................................................................................................................217
Where You Can Find More Information ..............................................................................................................217







INTRODUCTION
When you make your investment decision, you should rely only on the information contained in this
prospectus supplement and the accompanying prospectus. The Republic of Argentina ("Argentina") has not
authorized anyone to provide you with information that is different. This document may only be used where
it is legal to offer and sell these securities. The information in this prospectus supplement and the
accompanying prospectus may only be accurate as of the date of this prospectus supplement or the
accompanying prospectus, as applicable.
Argentina is furnishing this prospectus supplement and the accompanying prospectus to you solely for use
in the context of the Offer and for Luxembourg listing purposes. After having made all reasonable queries,
Argentina confirms that:
· the information contained in this prospectus supplement and the accompanying prospectus is true and
correct in all material respects and is not misleading as of the date of this prospectus supplement or the
accompanying prospectus, as applicable;
· it holds the opinions and intentions expressed in this prospectus supplement and the accompanying
prospectus;
· to the best of its knowledge and belief, it has not omitted other facts, the omission of which makes this
prospectus supplement or the accompanying prospectus as a whole misleading as of the date of this
prospectus supplement or the accompanying prospectus, as applicable; and
· it accepts responsibility for the information it has provided in this prospectus supplement and the
accompanying prospectus.
Argentina is a foreign sovereign state. Consequently, it may be difficult for you to obtain or realize upon
judgments of courts in the United States and other jurisdictions against Argentina.
The New Securities that Argentina issues to tendering holders of Eligible Securities in the United States are
being offered under Argentina's registration statement (file no. 333-117111) initially filed with the United States
Securities and Exchange Commission (the "SEC") under Schedule B of the Securities Act of 1933, as amended (the
"Act"), on July 2, 2004, and declared effective by the SEC on September 29, 2004. On December 23, 2004,
Argentina filed with the SEC Post-Effective Amendment No. 1 to its registration statement, which was declared
effective by the SEC on December 27, 2004.
The accompanying prospectus provides you with a general description of the securities that Argentina may
offer under its registration statement, and this prospectus supplement contains specific information about the terms
of the Offer and the New Securities. This prospectus supplement also adds, updates or changes information
provided in the accompanying prospectus. Consequently, before you participate in the Offer, you should read this
prospectus supplement and the accompanying prospectus, together with any additional information described under
"General Information--Where You Can Find More Information" in this prospectus supplement.
None of Argentina, any international joint dealer manager, the information agent, the exchange agent or the
Luxembourg exchange agent has expressed any opinion as to whether the terms of the Offer are fair. In addition,
none of the clearing systems through which you may tender your Eligible Securities has expressed any opinion as to
whether the terms of the Offer are fair. None of Argentina, any international joint dealer manager, the information
agent, the exchange agent or the Luxembourg exchange agent makes any recommendation that you tender your
Eligible Securities for exchange or refrain from doing so pursuant to the Offer, and no one has been authorized by
Argentina, any international joint dealer manager, the information agent, the exchange agent or the Luxembourg
exchange agent to make any such recommendation. You must make your own decision as to whether to tender
Eligible Securities in exchange for New Securities or refrain from doing so, and, if you do tender Eligible Securities,
the principal amount of Eligible Securities to tender.
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All references in this document to the website relating to the Offer (which we refer to as the "Offer
Website"), are to the website created and maintained by the information agent, which can be accessed through the
Internet address http://www.georgesonshareholder.com/argentina. These references are inserted as inactive textual
references to this "uniform resource locator" or "URL" and are for your informational reference only. Access to the
Offer Website by holders in certain non-U.S. jurisdictions will be subject to certain restrictions in compliance with
exemptions from regulatory approval being relied on by Argentina in such jurisdictions. See "Jurisdictional
Restrictions" below. Information on the Offer Website is not incorporated by reference in this document. Argentina
does not assume responsibility for the information that appears on the Offer Website, other than the Offer Materials
and other information that Argentina has authorized for display on the Offer Website under the information agent
agreement.
GLOBAL OFFERING
The Offer is being extended to holders of Eligible Securities in the United States, Luxembourg and
Denmark on the basis of this prospectus supplement and the accompanying prospectus. The Offer is also being
extended on the basis of this prospectus supplement and the accompanying prospectus in certain jurisdictions where
Argentina and the international joint dealer managers are relying on exemptions from regulatory approval by the
relevant authorities. For further information concerning the exemptions in these jurisdictions, see "Jurisdictional
Restrictions."
The Offer is also being extended to holders of Eligible Securities in Argentina, Germany and Italy on the
basis of separate prospectuses approved by the relevant regulatory authorities in these jurisdictions, and in the
Netherlands and Spain on the basis of prospectuses consisting of this prospectus supplement and the accompanying
prospectus, together with such additional disclosure required by the regulatory authorities in the Netherlands and
Spain, as the case may be. Holders in Argentina, Germany, Italy, the Netherlands and Spain should review, and
make their decision to participate in the Offer, solely on the basis of the prospectus approved by the relevant
regulatory authority in that jurisdiction, copies of which may be obtained on the Offer Website. The Offer in
Argentina is being managed by the Argentine joint dealer managers. For further information concerning the Offer
and the prospectuses in these jurisdictions, see "Jurisdictional Restrictions."
The Offer is only being extended where offers and solicitations are permitted by law, and only in
accordance with the applicable laws, rules and regulations of the relevant jurisdiction.
The Offer being extended under this prospectus supplement and the accompanying prospectus and the
offers being extended on the basis of separate prospectuses approved in the jurisdictions named above constitute one
and the same Offer, subject to the same terms and conditions (as set forth in this prospectus supplement), except as
required by applicable law or as otherwise noted in this prospectus supplement.
Offer in Japan
Subject to regulatory approval, Argentina intends to offer to holders of Eligible Securities in Japan,
concurrently with the Offer or as soon as practicable thereafter, securities with terms that are substantially similar to
those of the Pars, Discounts and GDP-linked Securities, as well as additional securities that are denominated in yen
and governed by Japanese law. The offer in Japan would be extended on terms that are substantially similar to the
terms of this Offer. The details of the offer in Japan will be set forth in a separate prospectus approved by the
relevant regulatory authorities in Japan. We refer to the offer in Japan as the "offer in Japan."
All calculations for purposes of determining the maximum aggregate principal amount of Pars that
Argentina will issue, and whether the maximum aggregate principal amounts of Pars and Quasi-pars have been
reached (as described under "Terms of the Offer--Limitation on Issuance and Allocation of New Securities--Limits
on and Allocation of Pars" and "Terms of the Offer--Limitation on Issuance and Allocation of New Securities--
Limits on and Allocation of Quasi-pars"), will include Pars and Quasi-pars issued pursuant to the offer in Japan.
However, no amount of Pars or Quasi-pars will be specifically reserved for purposes of the offer in Japan.
Accordingly, should the offer in Japan not occur concurrently with the Offer, Pars or Quasi-pars might not be
available for holders participating in such offer, depending on the demand for Pars or Quasi-pars pursuant to this
Offer.
-ii-





Similarly, the allocation of Pars and Quasi-pars in accordance with the procedures described under "Terms
of the Offer--Limitation on Issuance and Allocation of New Securities--Limits on and Allocation of Pars" and
"Terms of the Offer--Limitation on Issuance and Allocation of New Securities--Limits on and Allocation of Quasi-
pars" will encompass all tenders of Pars and Quasi-pars submitted in the Offer and the offer in Japan. If the offer in
Japan does not occur concurrently with the Offer, holders participating in the offer in Japan may not realize any of
the allocation benefits accorded to holders that tender their Eligible Securities early.
The Offer Materials have not been filed with or approved by the Kanto Local Finance Bureau.
Accordingly, holders of Eligible Securities who are Japanese residents or persons located in Japan should not rely on
the Offer Materials as a source of information or for instructions on how to tender Eligible Securities. See
"Jurisdictional Restrictions."
CERTAIN LEGAL RESTRICTIONS
The distribution of the Offer Materials and the transactions contemplated by the Offer Materials are
restricted by law in certain jurisdictions. If the Offer Materials come into your possession, you are required by
Argentina to inform yourself of and to observe all of these restrictions. The Offer Materials do not constitute, and
may not be used in connection with, an offer or solicitation in any jurisdiction where offers or solicitations are not
permitted by law. Holders of Eligible Securities outside the United States and Luxembourg should carefully review
the restrictions and limitations applicable in certain jurisdictions and the manner in which the Offer Materials will be
made available in such jurisdictions, as set forth in the "Jurisdictional Restrictions" section.
If a jurisdiction requires that the Offer be made by a licensed broker or dealer and any international joint
dealer manager or any affiliate of any international joint dealer manager is a licensed broker or dealer in that
jurisdiction, the Offer shall be deemed to be made by such international joint dealer manager or such affiliate on
behalf of Argentina in that jurisdiction.
Until forty days after the Announcement Date (as defined in "Summary Time Schedule for the
Offer"), all dealers effecting transactions in the New Securities in the United States, whether or not
participating in this distribution, may be required to deliver a copy of this prospectus supplement and the
accompanying prospectus.
CURRENCY EXCHANGE RATES
Several calculations in this prospectus supplement are performed using currency exchange rates in effect on
December 31, 2003. Those exchange rates per U.S. dollar are set forth below:
Rate per U.S. dollar
Currency
on December 31, 2003
Argentine pesos ....................................................................................................
2.9175
Swiss francs ..........................................................................................................
1.2409
Euro ...................................................................................................................... 0.7945
Pound sterling....................................................................................................... 0.5599
Japanese yen .........................................................................................................
107.3900


Source: Reuters Group PLC

-iii-





For purposes of the Offer, all calculations made with respect to Eligible Securities denominated in a
predecessor currency to the euro will be performed in euro. Accordingly, if you hold any such Eligible Securities,
you should convert all amounts relating to such securities into euro at the conversion rate applicable to such
predecessor currency as set forth in the table below:
Predecessor Currency
Rate per euro
Deutsche mark ......................................................................................................
1.9558
Italian lira.............................................................................................................. 1936.2700
Austrian schilling.................................................................................................. 13.7603
Spanish peseta ...................................................................................................... 166.3860


Source: European Central Bank
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