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Argentina: in chaotic trading dollar jumps 12.4% in one day to 8 Pesos in the official market

Friday, January 24th 2014 - 02:15 UTC
Full article 76 comments

In a day of chaotic trading the Argentine Peso on Thursday again plummeted against the US dollar losing 12.4% of its value in the official market, ending the day at just over 8 Pesos. In earlier operations the dollar was selling at 8,31 Pesos until the Central bank decided to intervene helping to cool the market. Read full article


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  • Anglotino

    But but but....what about that 4 year old girl that was shot.... and the £3 trillion UK debt! I'm looking at my daughter and crying.... ok enough piss off kid, daddy's gotta work!

    Seems the spiral has started and the Argentine goverment has used up all it ammunition already. Now they just have to wait and watch while their whole pack of cards starts to come down.

    Jan 24th, 2014 - 03:07 am - Link - Report abuse 0
  • ilsen

    13.06!!! Way to go Argentina! Welcome aboard to the good ship Venezuela!

    KFC advised the populace to 'seek the truth' from TeleSur (50% & 20% owned by the governments of Vnzla & AR respectively) in her latest address.
    official Vnzla usd exchange rate? oh, that'll be 6.30Bsf/1 usd
    'blue' rate 76.22Bsf/1 usd - see

    which 'truth' does KFC prefer?

    oh, BTW, is mostly blocked in Vnzla, but everyone accesses it via FB & Twitter etc.......

    Jan 24th, 2014 - 03:23 am - Link - Report abuse 0
  • Troy Tempest

    ARS PESO - “Blue” Dollar

    Jan 24th, 2014 - 06:30 am - Link - Report abuse 0
  • ilsen

    yup! 13.06

    Come on down Yankeeboy and shine your crystal ball(s)..... !

    Jan 24th, 2014 - 07:29 am - Link - Report abuse 0
  • falklandlad

    How disappointingly slow the spiral downwards is; faster, faster, faster. What a fantastic way to go; a return 2002 is on the horizon.

    Jan 24th, 2014 - 09:11 am - Link - Report abuse 0
  • Idlehands

    What has been happening is the government has been wasting billions of USD over the last few years trying to buck the market to keep themselves in power.

    All it's achieved is push the problem down the road - which was the point of the strategy. I hope it comes in time so that it is Kirchner's legacy and not blamed on any hapless successor

    Jan 24th, 2014 - 09:33 am - Link - Report abuse 0
  • JamesinBA

    I live in Buenos Aires and the situation is terribly grim here . The mood in the air is tense and people are scared at what their future will bring . This could be worse than 2001 as the city has more underlying social problems now than back them with more villas miserias .. There is no hope with this government now our lives have all been affected .

    Jan 24th, 2014 - 10:31 am - Link - Report abuse 0
  • Andy65

    To see Kirchner humiliated would be a dream

    Jan 24th, 2014 - 10:47 am - Link - Report abuse 0
  • warteiner

    Comment removed by the editor.

    Jan 24th, 2014 - 11:25 am - Link - Report abuse 0
  • yankeeboy

    BCRA spent U$180MM they don't have trying to keep a lid on the Peso. I guess they had a meeting with CFK and said there's no money left to do it since they are going to release the cepo ( but there isn't one hahaha) on Monday.
    This should be really interesting.
    If they are really going to let the peso float I wonder where it will end up.

    Every single financial news org is talking about another default, hyperinflation, balance of payment problems.

    Trading in swap contracts that insure bonds against nonpayment shows a 79 percent probability of default over five years. “We’re seeing some sort of day of reckoning,” says Diego Ferro, co-chief investment officer in New York at Greylock Capital, which has invested in the country’s debt. “The adjustment will have to happen if Argentina doesn’t want to hit a wall before 2015.” He foresees a run on deposits, hyperinflation, and a steep drop in reserves if the government doesn’t change its policies.

    Jan 24th, 2014 - 11:27 am - Link - Report abuse 0
  • paulcedron

    as always this 3rd class tabloid with old news.
    last news: the cepo is over.
    now, taking in account the strong demand, it seems it is not a great idea.
    guess they should have planned to leave the cepo gradually.

    Jan 24th, 2014 - 11:34 am - Link - Report abuse 0
  • Welsh Wizard

    @9 If they release the clamp then all dolars in the country in bank accounts will be extracted surely creating a run on the dollar. The national and provincial banks won't be able to pay out at that rate as their ca[pital controls won't allow it. Effectively the system could be emptied of dollars on monday with very little left by tuesday...or am I missing something?

    Jan 24th, 2014 - 11:51 am - Link - Report abuse 0
  • Andy65

    Dam I hope things get so bad, mass riots, killings looting come on Argentines destroy your country

    Jan 24th, 2014 - 12:06 pm - Link - Report abuse 0
  • paulcedron

    killings looting?
    no, those were in the uk,

    Jan 24th, 2014 - 12:08 pm - Link - Report abuse 0
  • yankeeboy

    I think the avg Rg will see it as a buying opportunity that wont last. The real U$ on hand is very very low.

    Jan 24th, 2014 - 12:08 pm - Link - Report abuse 0
  • Welsh Wizard

    @14 - and if they lift the clamp, will that apply to corporations? If so they will take out all of their UDS and put in somewhere outside the country. I have a feeling that the gov thinks that, if they release the clamp, people might put their USD in the bank for safe keeping....

    Jan 24th, 2014 - 12:17 pm - Link - Report abuse 0
  • yankeeboy

    15. Nobody would be stupid enough to put U$ in a Arg bank. They learned that lesson in 2001 when they all had them stolen.

    I wonder when the corporation agreement not to repatriate funds expires? It must be sometime this year. That should be a pretty big drain on U$.

    Jan 24th, 2014 - 12:19 pm - Link - Report abuse 0
  • ElaineB

    Riots, looting etc. have already been seen recently in Argentina. I suspect people are too damned hot and lethargic to do much.

    Most Argentines with any money (and sense) got it out of the country a while ago. The biggest problem they face is inflation and keeping food on the table. Anyone in government employment can expect not to be paid. Though, they are pretty used to erratic payments.

    Jan 24th, 2014 - 12:25 pm - Link - Report abuse 0
  • Welsh Wizard

    @16 just seen that the are taking away the tarrif and allowing people to buy dollars (if the have the right tax return etc.) as they feel that the difference between the two levels is now acceptable. The caveat is that it will be related to your income (like before). So will people actually be able to buy them or will they have to go the black market becuase their AFIP paper work isn't quite correct.

    I think it is later in the year. Once it does, the country will be drained of dollars...

    Jan 24th, 2014 - 12:27 pm - Link - Report abuse 0
  • yankeeboy

    13. Are you sure you are an Argentine?

    For Dominga Kanaza, it wasn’t the soaring inflation or the weeklong blackouts or even the fear that looting would spread from the outskirts of Buenos Aires that frayed her nerves. It was all of them combined. At one point, the shop owner refused to open the shutters protecting her corner grocery more than a few inches—just enough to sell soda to passersby on a sweltering summer day.

    “It was scary,” says Kanaza as she yells out prices to customers. The looting broke out days earlier after police went on strike in the nearby province of Cordoba. The walkout left Cordoba to criminals, who spread mayhem all the way to Buenos Aires. Kanaza says it was like nothing she had seen since the rioting that followed the nation’s record $95 billion bond default in 2001.

    18. It is pretty hard to prove AFIP income for most people. There's always a way to get U$. I used to use them to pay for everything while I was there. I always got a better rate. The people I rented from loved getting stacks of U$100s for my yearly rent. And they were considered rich Rgs!

    Jan 24th, 2014 - 12:37 pm - Link - Report abuse 0
  • Condorito

    They are all over the place.
    In one week they restrict internet purchases and then rescind the dollar clamp. The message is clear - they don't know what they are doing and have no strategy.

    They are stuck between a rock (low reserves) and a hard place (28% inflation). The intelligent solution is to let the markets do their job on the value of the peso and for policy makers to do their job i.e. tighten up fiscally and monetarily to fight inflation.

    Jan 24th, 2014 - 12:39 pm - Link - Report abuse 0
  • Clyde15

    Yes, Wat Tyler and his mob certainly caused a lot of trouble in London but Richard 11 sorted them out !!

    Jan 24th, 2014 - 12:43 pm - Link - Report abuse 0
  • yankeeboy

    20 Except neither of those things ensure they will stay in power. Once they are out of power they know they are going to jail or worse.

    Now it is a matter of survival and to heck with what happens long term.

    Jan 24th, 2014 - 12:44 pm - Link - Report abuse 0
  • Welsh Wizard

    19. That's my point. The difficulty of proving income to AFIP will mean that the lifting of the Cepo will be a completely empty gesture thus pushing people towards the black market anyway and increase the differential between the two rates.

    I wonder what will happen today and how much they will pump into the market...

    Jan 24th, 2014 - 12:47 pm - Link - Report abuse 0
  • Andy65

    @ paulcedron some years back but in Argentina the whole world saw the killings and lootings thanks to Kirchner's great policies,Argentines love them so they thought they would kill and loot to celebrate even the Chinese had to tell Kirchner to protect it's people JAJAJA

    Jan 24th, 2014 - 12:57 pm - Link - Report abuse 0
  • Klingon

    @22 You are totally correct.
    They dug themselves into a hole with their corruption and now are scrambling trying to cover it up and get out.
    Rats are going to be jumping ship very soon!
    I feel bad for the next govt trying to pick up the pieces.

    Jan 24th, 2014 - 12:58 pm - Link - Report abuse 0
  • ElaineB


    “In a surprise announcement that not only stunned the press corps at the Casa Rosada, but also most of the entire population, Cabinet Chief Jorge Capitanich entered the press room alongside Economy Minister Axel Kicillof and announced that the National Government had decided to lift the restrictions on foreign currency exchange that were put in place at the end of 2011.

    He also said the income tax advance, currently at 35 percent, would be lowered to 20 percent.”

    They are in a spin. Not a clue what to do.

    Jan 24th, 2014 - 01:18 pm - Link - Report abuse 0
  • yankeeboy

    They've never had a plan! They've been robbing Peter to pay Paul for a decade, now Peter has no more money.
    You can't blame a Marxist for not knowing how an economy works
    They are fish out of water
    The collapse will happen, CFK will be gone, the next ruler will have to go hat in hand to the IMF and beg.
    The problem I see is the USA, UK, Italy, Germany don't care if Argentina fails. They don't buy enough to matter and politically they are a non-entity. Plus it is a way to drag Brazil into the mess and keep them busy and quiet for a decade.
    Argentina failing is in everyone's best interest except for the people who live there.

    Jan 24th, 2014 - 01:32 pm - Link - Report abuse 0
  • Welsh Wizard

    Just spoke to an analyst at paribas who said that they feel this shift in exchange rates possibly translates into a real inflation rate of between 70-75%. They will have to see what happens in the next couple of weeks with monetary policy but that is their gut feeling

    Jan 24th, 2014 - 01:41 pm - Link - Report abuse 0
  • yankeeboy

    28. That makes sense, I said 50% last week on one of my posts.
    Unless they severely cut back hyperinflation is assured.
    They won't cut back
    Their instinct will be to print as many pesos and more than they need

    Just wait until the car companies start the massive lay offs
    Any company that buys production with U$ will be out of business if they are not careful.
    I've said for a long time I think the car companies will pull out when the next crisis hits. They will pay more for stability. It is easy to move production to Mexico USA or Brazil where they already have the plants.

    Without cars all that is left is SOY
    and that's not enough

    Jan 24th, 2014 - 01:49 pm - Link - Report abuse 0
  • Conqueror

    @18 If I understand the report correctly, the clamp won't be “gone”, it will just be “changed”. Always difficult with a “translated” article to know whether you have the correct sense. It seems to be an attempt to stop the “bleeding” of the reserves. But what happens when a few million argies want to buy a few hundred dollars? This could cause mayhem. Especially when argies realise that their pesos won't buy the same number of dollars that they sold. Now, without looking up past “official” exchange rates, what happens when you sold your dollar for 5 pesos, but it costs 8 pesos to get it back? Who gets the difference? Might that be the central bank? The bank makes 3 pesos per dollar. Sell a billion dollars, make 3 billion pesos. And if those pesos are sold elsewhere? There HAS to be a scam here. Maybe the “government” is going to decamp en-masse?

    Jan 24th, 2014 - 02:02 pm - Link - Report abuse 0
  • yankeeboy

    Looks like their announcement didn't really do anything both rates are up again this am.
    My guess is everyone with goods priced in U$ ( cars, computers, real estate etc) have stopped selling them until they see what is going on.

    Inflation is going to be through the roof!

    Jan 24th, 2014 - 02:25 pm - Link - Report abuse 0
  • Welsh Wizard

    @29 - It thought that is was pretty fair too. Anyone have any idea of what their plan is for today? More carnage. I looks like they have decided to give themselves a day to sort out their own affairs and then unleash Mr Market onto the population on Monday morning

    Jan 24th, 2014 - 02:27 pm - Link - Report abuse 0
  • Andy65

    I'm loving this where's Think where's Marcos???

    Jan 24th, 2014 - 02:31 pm - Link - Report abuse 0
  • paulcedron

    now things are a bit clearer.
    it is the return to the original cepo, where the afip decides (it doesnt matter your saving capacity, if your income is “en blanco”, etc) if you qualify to buy dollars.
    the answer in 99.9% of the cases will be a big no.

    Jan 24th, 2014 - 02:58 pm - Link - Report abuse 0
  • Welsh Wizard

    @34 so people will buy the blue, it will rise and the gov will have to just float the peso and hyperinflation will start. This wouldn't happen in a serious country

    Jan 24th, 2014 - 03:02 pm - Link - Report abuse 0
  • Lou Spoo


    Seems to me to be a cynical ploy.

    1. Restrictions are lifted/changed.
    2. Dollar purchases rise as people rush to dump the Peso.
    3. Dollar reserves run out.
    4. Government defaults (again).
    5. Government announces it's not their fault and places the blame on 'speculators' for draining the reserves.

    Jan 24th, 2014 - 03:12 pm - Link - Report abuse 0
  • paulcedron

    probably during a week or two, the price of the blue dollar will fall.
    then, i think it will happen what you are saying, with a new rise.
    the problem is that food prices increase every time the dollar rises

    Jan 24th, 2014 - 03:23 pm - Link - Report abuse 0
  • Optimus_Princeps

    @36 Lifting restrictions just seems like they are releasing their vice grip just to clamp down even tighter. I'm sure they are going to monitor who is making the purchases, blacklist them, and send AFIP to clean them out.

    Kircherites never have pure motives. Their greed doesn't allow for it.

    Jan 24th, 2014 - 03:28 pm - Link - Report abuse 0
  • MagnusMaster

    @27 either the state robs Peter to pay Paul, or Paul will rob Peter in a far more violent fashion. But as humanity moves away from barbaric but effective methods, we´ll need to start figuring out to deal with Pauls.

    @36 don´t forget about confiscating every single dollar they can. It´s bad, but they´ll do what they can to save their asses and prevent total anarchy.

    Things are looking real bad here. All factories shut down since nobody knows how much to charge for stuff.

    Jan 24th, 2014 - 03:33 pm - Link - Report abuse 0
  • ElaineB

    @38 Yes, because they have to prove their income and the amount of dollars they can buy will be proportional. Since 50% of the workforce is on the 'black' and most others do anything to avoid paying tax, declared income is likely to be far lower than the true figure.

    Jan 24th, 2014 - 03:54 pm - Link - Report abuse 0
  • Brit Bob

    The beginning of the end...


    Jan 24th, 2014 - 03:58 pm - Link - Report abuse 0
  • Furry-Fat-Feck

    33 Andy65 (#)
    Jan 24th, 2014 - 02:31 pm

    Where's KFC? She fired up Tango One yet?

    Jan 24th, 2014 - 05:37 pm - Link - Report abuse 0
  • jeffrey

    no restrictions on the usa dollars
    i received the news in my cellular phone as early of 1/24/14

    Jan 24th, 2014 - 06:23 pm - Link - Report abuse 0
  • Be serious

    Argentina is in real trouble. The danger is that it will spread to the rest of South America and the onto emerging markets in Asia. This is down to Kirchners arrogance and financial mismanagement. Any bail out must be conditional on her standing down. What Argentinians do with her after that is up to them.

    Jan 24th, 2014 - 06:44 pm - Link - Report abuse 0
  • MagnusMaster

    @43 I doubt it will spread beyond Uruguay. Brazil and maybe Chile will be affected but not enough to cause a recession. If the Asian economies go into recession it's nothing to do with us.

    Jan 24th, 2014 - 06:49 pm - Link - Report abuse 0
  • golfcronie

    Hasn't changed much since the sixties then.

    Jan 24th, 2014 - 07:35 pm - Link - Report abuse 0
  • ElaineB

    @45 It is a real problem. No one wants to pay into the system but expect to take from it. When you point out that the social contract means you give as well as take from society they quite rightly point out that anything they give it going in the pocket of some corrupt official, not into the system to improve services.

    It would require a complete change of culture for Argentina to reach its undoubted potential.

    Jan 24th, 2014 - 07:42 pm - Link - Report abuse 0
  • Andy65

    What's the chance things will stabilise and Kirchner carry's on?? I just want to see this bitch fail more than anything and be made to explain her policy's

    Jan 24th, 2014 - 07:47 pm - Link - Report abuse 0
  • Think


    Last round was undoubtedly won by Mr. Kicilloff & CO…...........… by KO…
    Can’t get more than 10 pesos for the Yankee Dollar in the Streets of Buenos Aires today…
    .............................. Let’s see what ”the Empire Strikes Back” on Monday.

    Hereby, some more good news from Argentina...., in English for all her monolingual Anglo fans…:

    Weekly Argentinean Agricultural Report, JANUARY 23, 2014…:
    ” ….the harvest volume expected in 2013/2014 will amount to 53,000,000 tons.
    If such projection is accomplished, the YOY (Year on Year) increase will report 9.3 % compared to the previous season 2012/2013: 48,500,000.”

    Chuckle chuckle©

    Jan 24th, 2014 - 08:10 pm - Link - Report abuse 0
  • Andy65

    Blah Blah Blah me old THINK

    On the streets of Buenos Aires, many Argentines felt the same way. “This is all improvised,” said Antonio López, 63, an administrator for an office building, as he bought a newspaper from a street stand. “They don’t know what they’re doing. Inflation is going to rise. I wish I could buy dollars, but there’s no purchasing power.”

    Many were also confused by an apparent relaxation of capital controls, after the government said on Friday it would allow Argentines to save in dollars from next week, and would also cut the tax rate on some foreign purchases to 20 per cent from 35 per cent.

    Aldo Pignanelli, a former central bank president, said: “It’s impossible that the central bank will lift the clamp (on dollar purchases) because the current demand for dollars hugely outweighs supply and reserves are falling.”

    The official rate for Argentina’s peso is still well off the black market rate, known as the “blue dollar” rate, suggesting further pressure on the official peso to depreciate . . . 

    Argentines are no strangers to abrupt devaluations and high inflation, and the experience of Argentina’s 2002 devaluation and debt default is seared into many minds, which is why the government has long stood back from a sudden devaluation.

    However, stagnant commodity prices are shrinking the trade surplus and Ms Fernández’s policy of printing money to fund social spending is unravelling as the fiscal deficit grows. Her government has also begun to try and mend fences with international lenders by, for example, reopening talks with the Paris Club of creditors.

    On Wednesday, the 60-year-old head of state made her first public appearance since undergoing surgery to remove a bloodclot from her brain in October but she made no mention of Argentina’s economic challenges.

    “The chickens of populism have come home to roost,” said Arturo Porzecanski, an economist at the American University. “This is the beginning of the end of Kirchnerism in my view.”

    Jan 24th, 2014 - 08:28 pm - Link - Report abuse 0
  • yankeeboy

    48. Pity Soy is down yoy and their estimates are WILDLY optomistic year after year.
    Kinda like the GDP number

    If I was a farmer I would demand at least 15/1 as the exchange.
    Psst I bet they are thinking that already

    Jan 24th, 2014 - 08:28 pm - Link - Report abuse 0
  • Andy65

    If this was Obama or Cameron Brits and Americans would not be here defending a failing government it's hard to understand how these idiots like THINK can

    Jan 24th, 2014 - 08:38 pm - Link - Report abuse 0
  • golfcronie

    @46 ElaineB
    Your right but in 47 years nothing much has changed as regards the taxes.

    Jan 24th, 2014 - 08:44 pm - Link - Report abuse 0
  • Captain Poppy

    Apparently the was a major selloff in the emerging markets. China is going nowhere and SA is right behind them.

    Jan 24th, 2014 - 09:12 pm - Link - Report abuse 0
  • yankeeboy

    BCRA is blowing through U$ trying to support the peso.
    You'd think at some point they'd realize it is a foolish waste of money
    They'll be under U$25B and through most of their liquid funds by mid Feb if they keep this up.
    Not a smart people

    Jan 24th, 2014 - 10:34 pm - Link - Report abuse 0
  • Orbit

    No plan. CFK spending longer out of the country than is required. Nice synopsis.

    Jan 24th, 2014 - 11:49 pm - Link - Report abuse 0
  • JamesinBA

    Things have calmed down today here but the mood is expectant . The argentinian people have been beaten down by financial collapses and government controls that most demonstrations are very ineffective now .

    Jan 25th, 2014 - 12:17 am - Link - Report abuse 0
  • CJvR

    Although it will be amusing to see the economic bomb KFC have prepared for so long go off in her face I do feel sorry for the Argentinians that went to sleep tonight with a lost decade behind them and who will wake up on Monday with a lost decade ahead of them.

    Jan 25th, 2014 - 12:26 am - Link - Report abuse 0
  • ElaineB

    The price of a Samsung Galaxy S4 phone rocketed from 7,999 pesos to 11,518 pesos on Thursday according to pictures posted on Reddit. It is back to the last crisis when costs of items were calculated at the check out.

    CFK will not be in Argentina on Monday. What a surprise.

    Jan 25th, 2014 - 08:27 am - Link - Report abuse 0
  • Teaboy2

    Whoever is posting all these articles that look like a single wall of text, needs to learn what a flaming paragraph is!!

    Jan 25th, 2014 - 11:49 am - Link - Report abuse 0
  • ElaineB

    I wonder if they are posting from a tablet or smartphone. It is very annoying.

    Jan 25th, 2014 - 02:16 pm - Link - Report abuse 0
  • Captain Poppy

    Holy Shit! Serious Elaine? Mine was free with a 2 year contract via AT&T

    Jan 25th, 2014 - 03:15 pm - Link - Report abuse 0
  • ElaineB

    @60. I have never paid for a phone either. They come as part of the contract with regular free upgrades all negotiated online with the upgrade arriving the next day by courier.

    I remember when I was in Mendoza last year a chap there explaining he had to abandon his iPhone as it was impossible to get parts for it so he had reverted to a really basic phone.

    Jan 25th, 2014 - 03:50 pm - Link - Report abuse 0
  • Troy Tempest

    61 ElaineB

    “I remember when I was in Mendoza last year a chap there explaining he had to abandon his iPhone as it was impossible to get parts for it so he had reverted to a really basic phone.”

    Interesting that you mention that, Elaine.

    There was a discussion with Toby, once upon a time, about computers.

    He was adamant, as per his usual rant, that Argentina needed nothing from us.
    We asked him about hard drives and computer parts. He told us they were cheap, in plentiful supply, and Argentina could produce anything they needed.

    I know from experience that my own computer needs regular repairs and upgrades, and periodic replacement.
    How are the Argentinians really doing?

    Jan 25th, 2014 - 06:19 pm - Link - Report abuse 0
  • golfcronie

    ElaineB, Do you remember the mobile phone that looked and weighed like a brick and came with a battery that you had to have a seperate bag to carry it? I still have one of those, do you think that if I put it on Ebay some Argentinian might buy it? Nah , only kidding.

    Jan 25th, 2014 - 07:55 pm - Link - Report abuse 0
  • ElaineB

    @65 I think he described something he had built out of parts. Resourceful but probably not portable. I can slip my compy in a handbag.

    @66 LOL! I never had one of the house brick phones that doubled as a weapon.

    Jan 26th, 2014 - 10:34 am - Link - Report abuse 0
  • Conqueror

    @37 Of course it's cynical. What else did you expect?
    @40 Where's “here”? Just so we can judge the next figures for “growth”.
    @61 I wonder if you “understand” about paragraphs on here? A blank line means that one “loses” 146 characters. Only a little less than your complaint took. Strangely, I read the words, not the spaces. Can't you do that? Attention span too short?

    Jan 26th, 2014 - 12:38 pm - Link - Report abuse 0
  • Captain Poppy

    Golf I remember those. They were in like a mini zippered briedcase with a corded handset.....handset in one side and the brick battery on the other......and that was only the 90' How fast we change.

    Jan 26th, 2014 - 12:43 pm - Link - Report abuse 0
  • golfcronie

    You must be roughly my age it seems. And you are correct we ( the west ) change very fast, sometimes difficult to keep up, it seems that every week they update computers and software.

    Jan 26th, 2014 - 03:48 pm - Link - Report abuse 0
  • A_Voice

    Are you sure you are English...
    A new paragraph, doesn't need space in-between, just a new line...
    ...Like so...I use ellipses to create an indent or space within.......a sentence as blank space within a sentence disappears when posted.
    You are also wrong about the space on constitutes one character not 146...
    3 characters were used the character count as you enter a space...

    Also more than one paragraph space disappears when posted....
    ....but achievable using a single character....

    Those lessons were free...any more and it'll cost you...

    Jan 26th, 2014 - 07:16 pm - Link - Report abuse 0
  • Doggy Rap

    @ 5 falklandlad who wrote:
    “How disappointingly slow the spiral downwards is;”

    Not so slow, my lad.

    1 US$ = x AR$, official exchange rate.
    January 01, 2013: 4.93
    January 02, 2014: 6.55
    January 25, 2014: 8.02

    Down 32.9% 2013-2014 JAN primo = 1 year
    Down 62.7% 2013 JAN 01 to 2014 JAN 25 = 1 year 24 days
    Down 22.4% 2014 JAN 01 to 2014 JAN 25 = 24 days

    Jan 27th, 2014 - 12:32 am - Link - Report abuse 0
  • Don Alberto

    The 20 per cent lasted only a few hours, now it's back up to 35 per cent again.

    Vuelta atrás del Gobierno: no bajará del 35% al 20% la retención para compras en el exterior

    Jan 27th, 2014 - 12:48 am - Link - Report abuse 0
  • Captain Poppy

    The concept of paying tax to purchase currency is odd to my at best. Anyway.....a new Monday and a new week of stupid ass news to come out of La casa Rosado.....I can hardly wait.

    Jan 27th, 2014 - 10:12 am - Link - Report abuse 0
  • Andrea_LAST385

    It seems there is no movement toward a resolution here. Inflation rising = food prices rising. From what I understand, there are boycotts everywhere from teachers to police because people are not being paid enough to survive and families are going hungry.

    The government doesn't have a handle on anything. The economy keeps tanking and not one article on a positive movement. All I have been reading is that meetings with EU and Mercosur keep getting postponed because of internal problems needing to be solved. But, these internal problems in the country are not going anywhere. Will there be any improvement?

    Note: Comments are for a class I am taking at my university. I am new to the current affairs of Latin America. I appreciate all feedback and points of views. Thanks!

    Jan 28th, 2014 - 05:59 pm - Link - Report abuse 0
  • Captain Poppy

    What college or university?

    Jan 29th, 2014 - 12:21 am - Link - Report abuse 0

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