Argentina: US dollar reaches a new record of 13.15 Pesos in Buenos Aires 'blue' market

Thursday, August 14th 2014 - 06:11 UTC

Full article 5 comments

The US dollars climbed to a record 13.15 Pesos on the black or 'blue' market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos. Read full article

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yankeeboy
As our resident Arg sages Toby and Axel would say; Who cares nobody uses the U$ here.

:)

I won't be long now until BCRA has no float. I really doubt the Arg Treasury can fulfill the U$ 22B+U$ denominated notes BCRA will have to cash in soon to pay for food and fuel.
Aug 14th, 2014 - 10:06 am - Link - Report abuse 0
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Mendoza Canadian
Yipeee!!
Aug 14th, 2014 - 11:35 am - Link - Report abuse 0
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chronic
“With uncertainty prevailing even farmers are reluctant to sell their crops preferring to keep grains and oilseeds until the financial weather settles.”

They are holding the stocks back because they are afraid of further depressing already lower world commodity prices. When the silos are full the prices will plummet further compounding the trade imbalance and depleting dollar reserves.
Aug 14th, 2014 - 02:06 pm - Link - Report abuse 0
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Chicureo
What is truly amazing is that the Peso has not gone into a free fall. I wrongly assumed over a year ago that I'd be flying over to BA with empty suitcases.
It's remarkable the Argentine government has maintained the Peso exchange rate considering the mess they're in.
Aug 14th, 2014 - 06:24 pm - Link - Report abuse 0
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chronic
Arbolitos: 13.5
Aug 14th, 2014 - 07:14 pm - Link - Report abuse 0
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