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MercoPress, en Español

Montevideo, November 21st 2024 - 22:08 UTC

Tag: Argentine peso

  • Thursday, February 10th 2022 - 21:27 UTC

    St Valentine's Day rise in bread to hit beleaguered Argentine families

    Argentina's economy is going through a wave of price increases

    The price of bread in Argentina is to rise between 20% and 25% as of next Monday, Feb. 14 in a very special St Valentine's Day gift both to consumers and to a Government that is struggling to curb inflation and keep the exchange rate of the local peso against the US dollar from skyrocketing.

  • Wednesday, January 5th 2022 - 10:17 UTC

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

    Since then inflation in Argentina has reached 435%, and according to John Hopkins University the Argentine Peso became the sixth most devalued currency

    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.

  • Thursday, December 30th 2021 - 09:58 UTC

    Argentine peso drops yet again versus informal US dollar

    The “blue” dollar is slowly going up... and up.

    The unofficial exchange rate between the Argentine peso and the US dollar climbed just one more notch Wednesday, thus reaching an unprecedented high of AR $ 205 (buy) and AR $ 209 (sale) / US $ 1.

  • Wednesday, December 22nd 2021 - 11:36 UTC

    Argentine peso needs devaluing, Goldman Sachs report says

    The GDP in 2022 would grow 2.9% or less, according to Goldman Sachs

    A macroeconomic report from Wall Street operators Goldman Sachs released Tuesday has warned that “without fiscal or monetary anchors” the country is up for strong “headwinds” in 2022 and 2023 and, therefore, “the peso needs to be devalued.”

  • Tuesday, December 8th 2020 - 08:44 UTC

    Proposal to have Maradona and his “Hand of God” goal on the 1,000 Peso bill

    The note, would feature Maradona’s face on one side and a picture of one of his most famous goals on the other, said the bill’s sponsor Senator Norma Durango.

    An Argentine senator wants to put Diego Maradona on the country’s banknotes and presented a project to Congress on Monday to get the late soccer star and possibly even his ‘Hand of God’ image on a 1,000-peso note.

  • Saturday, October 24th 2020 - 09:25 UTC

    Argentina loves the dollar and has total aversion for its own currency

    “You can’t de-dollarize the mentality of a nation simply by cutting its access to dollars,” said liberal economist Javier Milei

    Argentina’s battle to control its currency is upending South America’s second-largest economy, wreaking havoc on everything from household finances to the production and sale of common goods.

  • Monday, September 28th 2020 - 09:31 UTC

    It’s time to dump Argentina’s Peso

    With money growing at over 50 percent per year, it’s no surprise that Argentines treat their pesos like hot potatoes.

    By Steve H. Hanke – In addition to facing an acute Covid-19 crisis, Argentina's deadbeat economy is collapsing, and, as usual, the inflation noose is around Argentines’ necks. Argentina’s official inflation rate for August 2020 is 40.70% per year. And, for once, Argentina’s official rate is fairly close to the rate that I calculate each day using high-frequency data and purchasing power parity theory, a methodology that has long proved its worth when compared with official statistics. Today, I measure Argentina’s annual inflation rate at 37%, but probably not for long — the noose is generally followed by the trapdoor.

  • Thursday, September 24th 2020 - 09:31 UTC

    Argentine currency worthless in Uruguay

    On Wednesday Uruguay's leading bank, which belongs to the State, Banco Republica, was offering ten cents for each Argentine Peso, and selling for 55 cents.

    For the second day running the Argentine Peso was virtually worthless in neighboring Uruguay foreign exchange houses. On Tuesday the Argentine Peso was worth zero, and on Wednesday there was a modest ten Uruguayan cents offered for the battered Argentine currency.

  • Thursday, September 17th 2020 - 09:30 UTC

    Argentina tightens currency controls, helping the US dollar climb to a new record

    Access to dollars for the purpose of paying off foreign credit card debt and for purpose of saving in a stable currency will be taxed at 35%

    Argentina's peso currency plunged further into record low territory after the central bank tightened currency controls. The peso opened almost 0.1% weaker at 75.25 per U.S. dollar, traders said, and the country risk rose 38 basis points to 1,157. The black market peso or blue dollar plummeted 9.7% to open at a new all-time low 145 per U.S. dollar.

  • Friday, March 20th 2020 - 09:43 UTC

    Argentina successfully rolls over local bonds in Pesos

    The value of the new instruments totaled 304 billion pesos (US$ 4.794 billion), the ministry said

    Argentina’s economy ministry said on Thursday it had exchanged around 257 billion pesos (US$ 4 billion) in a debt swap for new instruments maturing between 2021-2024, as the government looks to restructure its debt amid a credit crunch.