Yes, but it started much earlier. Started around the 1940s with several episodes of hyperinflation along the way. The 1990s convertibility was an exception.

That said I'm looking forward to peso-sat parity

franzap

bitcoin

Argentina, The house of cards is beginning to sway.

fbv000

This has been happening for more than a decade in Argentina.

[Over the span of the last 10 years you can see the decline of their currency against USD](https://www.xe.com/currencycharts/?from=ARS&to=USD&view=10Y)

Also, note that this comes from earlier, [one Argentinean Peso used to be worth one USD](https://en.wikipedia.org/wiki/Convertibility_plan):

> The Convertibility plan was a plan by the Argentine Currency Board that pegged the Argentine peso to the U.S. dollar between 1991 and 2002 in an attempt to eliminate hyperinflation and stimulate economic growth.

Today one Argentinean peso is worth 0.00457783 USD. That's less than a cent.