Argentine Peso: the worst of the storm seems to be over...for the time being

Tuesday, May 8th 2018 - 06:57 UTC

Full article 1 comment

The Argentine Peso closed slightly weaker on Monday, though analysts remained optimistic the government and central bank had curbed a run on the currency with a massive rate hike and lower fiscal deficit target last week. . The local currency opened stronger on Monday but closed down 0.41%, at 21.97 per U.S. dollar. The Merval stock index ended down 3.43% and traders said investors remained cautious. Read full article

Comments

Disclaimer & comment rules

Enrique Massot
The above story was outdated even before being posted.

We now know that the Argentine government has maxed up its credit card and it's going now to seek for some oxygen knocking at the door of the loan sharks.

Another sad end for the “best team of the last 50 years,” as Macri called his cabinet about 30 months ago.

While this crisis is going to hit hard on Argentines, it's reassuring that all is not lost. The US dollars Macri and his ministers have abroad are now worth a lot more than they were just a week ago.

Once more, the myth of wealthy businessmen making efficient politicians goes down in flames.
May 08th, 2018 - 08:13 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!