When Argentina Adopted a Currency Board,it Set the Exchange Rate

When Argentina adopted a currency board,it set the exchange rate at __________,meaning that,for every peso in circulation,__________.

A) 10 pesos to the dollar;it needed 10 cents in reserve
B) one peso to the dollar;it needed five dollars in reserve
C) one peso to the dollar;it needed one dollar in reserve
D) one peso to the dollar;it needed one gram of gold in reserve
E) None of the above is correct.