▁but ▁an ▁over valu ed ▁currency ▁meant ▁certain ▁imports ▁were ▁so ▁cheap ▁that ▁local ▁industry ▁decl ined , ▁and ▁many ▁exports ▁were ▁pr iced ▁out ▁of ▁the ▁market . ▁The ▁Ministry ▁of ▁Econom y ▁put ▁an ▁end ▁to ▁the ▁exchange ▁rate ▁policy ▁of ▁previous ▁govern ments . ▁The ▁currency ▁under w ent ▁a ▁ 3 0 % ▁de valu ation . ▁In ▁ 1 9 7 0 , ▁the ▁" pes o ▁mon eda ▁nacional " ▁( one ▁of ▁the ▁longest - l ived ▁curr encies ▁in ▁the ▁region ) ▁was ▁replaced ▁by ▁the ▁" pes o ▁le y " ▁( 1 0 0 ▁to ▁ 1 ). ▁ ▁In ▁May ▁ 1 9 6 9 , ▁dis content ▁with ▁Krie ger ' s ▁economic ▁policies ▁led ▁to ▁ri ots ▁in ▁the ▁cities ▁of ▁Cor ri entes , ▁Ros ario ▁and ▁C ór dob a . ▁Krie ger ▁was ▁removed , ▁but ▁the ▁O ng an ía ▁administration ▁was ▁unable ▁to ▁agree ▁on ▁an ▁alternative ▁economic ▁policy . ▁By ▁ 1 9 7 0 , ▁the ▁authorities ▁were ▁no ▁longer ▁capable ▁of ▁maintain ing ▁w age ▁rest raint s , ▁leading ▁to ▁a ▁w age - price ▁spir al . ▁As ▁the ▁economy ▁started ▁to ▁l angu ish ▁and ▁import ▁substitution ▁industrial ization ▁ran ▁out ▁of ▁steam , ▁urban ▁migration ▁slow ed . ▁Per ▁cap ita ▁income ▁fell , ▁and ▁with ▁it ▁the ▁standard ▁of ▁living . ▁Per ón ' s ▁third ▁term ▁of ▁office ▁was ▁character ized ▁by ▁an ▁exp ans ive