In three decades the Argentine Peso equivalent to one dollar, is now worth less than 5 US cents

Wednesday, January 5th 2022 - 10:17 UTC

Full article 3 comments

Some three decades ago the new Argentine democratically elected government takes office determined to put an end to endemic inflation when not hyperinflation. The new scheme was convertibility, making the Peso equivalent to one US dollar. Following strictly to the book, this meant a tight rein on spending and selling government companies that only accumulated deficits. Read full article

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JoJo
”This has meant that the onetime mighty Peso equivalent to a dollar is now hardly worth 5 US cents, (yes five cents).”??? If is is 200 pesos to the dollar, then surely onee peso is only worth 0.5 US cents, not 5?
Jan 05th, 2022 - 05:16 pm - Link - Report abuse 0
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Marti Llazo
It's Latin American maths.

The ARS, the argie peso, in terms of real money (dollars) is worth less than half a cent on the free market (blue dollar).

The dollar is running about 206 ARS: 1 USD
Jan 05th, 2022 - 07:48 pm - Link - Report abuse 0
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imoyaro
It's still overvalued...
Jan 06th, 2022 - 01:56 am - Link - Report abuse 0
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