Argentines in ‘expectations panic’ paid a record 9.20 Pesos for the US dollar

Friday, April 26th 2013 - 01:36 UTC

Full article 16 comments

The US dollar in Argentina’s parallel or ‘blue’ market continued to soar on Thursday reaching a new record high of 9.16 and 9.20 Pesos buying and selling price which over twenty cents more than on Wednesday. Read full article

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Be serious
Good news.
Apr 26th, 2013 - 02:02 am - Link - Report abuse 0
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John Troll the 3rd
No big deal.
Apr 26th, 2013 - 02:31 am - Link - Report abuse 0
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Anglotino
Actually it isn't good news and it is a huge deal.

With high inflation, people are seeing their assets and wages decline and a consequence of this is an increasing number of people are slipping into poverty.

The market rate is a mechanism for the economy to correct itself because of these inflationary and low growth pressures. However the government's sole goal of paying down debt by keeping the exchange rate artificially low and lying about the inflation rate is actually destroying the very money making machine the government needs - the economy.
Apr 26th, 2013 - 02:35 am - Link - Report abuse 0
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commonsense
Normally I wouldnt celebrate anyone suffering like the Argentinians are about to, however if it leads to the downfall of the current bunch of lieing, corrupt baffoons then, in the long term, it may be worth it.
Apr 26th, 2013 - 07:14 am - Link - Report abuse 0
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Pirate Love
Its all good.....i wonder when the peso will reach $10.....she gets my vote!!
Apr 26th, 2013 - 08:03 am - Link - Report abuse 0
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Ayayay
So has anyone here sold anyone any dollars?
Sounds profitey.
Apr 26th, 2013 - 09:14 am - Link - Report abuse 0
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Mendoza Canadian
Helps to offset 25 per cent inflation....
Apr 26th, 2013 - 10:28 am - Link - Report abuse 0
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yankeeboy
They're still pretty far away from the Nuevo Austral or Peso Oro who knows what the next script will be called. Argentina is just entering its next currency crisis.
I think this time most Int'l mfgs will leave, there're plenty of places that don't have to lop off 000 or 0000 every few years from their bills.

I think the next companies to pack up will be GM and Ford they can easily switch production to Mexico and Brazil.

This is just the beginning of the end but it will get more exciting now.
Apr 26th, 2013 - 10:40 am - Link - Report abuse 0
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mastershakejb
lol @ cristina trying to force rouseff to force Vale to capitulate...and Vale simply refusing to do so. Vale wants nothin to do with Cristina/Argentina anymore, better to walk away and lose billions, than stay and lose billions more.
Apr 26th, 2013 - 11:12 am - Link - Report abuse 0
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Conqueror
@9 Any chance of another lawsuit against argieland?
Apr 26th, 2013 - 03:11 pm - Link - Report abuse 0
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Redrow
@2 Campora Troll - “no big deal”

There's no point playing it cool because we can all see your peril. Your country has passed the tipping point (again) and what follows is now unavoidable. It just seems incredible to me that you think you are saving face by pretending you are not bothered. Your people suffer but you don't care - nice.
Apr 26th, 2013 - 07:37 pm - Link - Report abuse 0
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yankeeboy
A $1 decrease in the Peso in 3 weeks is catastrophic! If Argentina was a legitimate/serious country this would be headline news on every business news site.
It is disastrous for the gov't and it's people
Think about the lost savings and the import cost increase in just over 3 weeks it is flabbergasting.
Apr 26th, 2013 - 07:44 pm - Link - Report abuse 0
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CJvR
I wonder where the Central Bank got the net + $$ from. Anyone selling dollars to the official rate in Argentina needs to have their head examined.
Apr 26th, 2013 - 09:30 pm - Link - Report abuse 0
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yankeeboy
13. Exporters that don't have an option,

Farmers said they'll strike in May and make the strikes progressively worse until a solution is found.

In case anyone forgot it is May in less than a week
Apr 26th, 2013 - 10:10 pm - Link - Report abuse 0
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mollymauk
When the next devaluation comes, it won't be anything new - this is a country that has devalued its currency so often that if you had TEN TRILLION (10,000,000,000,000) pesos in 1969 and had kept it in a box it would now be worth ONE peso
Apr 26th, 2013 - 10:57 pm - Link - Report abuse 0
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cornelius
# 15 I visited Argentina during those days my hotel was the Albear palace I paid us$ 30.00 per day i drink i party for Us $ 500.00 i was the king for more than a month it was 1973.
Apr 27th, 2013 - 01:24 am - Link - Report abuse 0
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