Tag: dollar clamp

• Friday, March 22nd 2013 - 21:23 UTC

  Uruguay’s economic-trade relations with Argentina at ‘their worst moment in a long time’

  

  The economic-trade relations with Argentina are going through ‘their worst moment in a long time’, and the latest measures announced by the government of President Cristina Fernandez have a ‘very harmful effect’ on Uruguay, said Vice-president Danilo Astori on Friday.

• Friday, March 22nd 2013 - 07:19 UTC

  Argentina threatens with ‘flexible imports’ to ensure supply of consumer goods

  

  Argentine president Cristina Fernandez announced the government is prepared to make imports more flexible in those areas where a few companies have a quasi-monopoly control, but also warned about windfall profiteering.

• Thursday, March 21st 2013 - 06:14 UTC

  Urgent meeting of Argentine economic team as US dollar jumps 10% to 8.75 Pesos

  

  President Cristina Fernandez called an urgent meeting on Wednesday evening of her economic team following a day of hectic trading in the currency exchange market which had the US dollar climb to 8.75 Pesos in the parallel market, expanding the gap with the official rate to almost 70%.

• Friday, March 15th 2013 - 06:57 UTC

  Argentina: dollar in black market climbs to milestone 8 Pesos and 57% gap with the official rate

  

  The black market dollar exchange rate in Argentina pierced the milestone 8 Pesos mark while the official rate climbed to 5.09 Pesos with the gap between the two markets reaching 57%. The other ‘cash’ option: buying Argentine shares in Buenos Aires and reselling them in New York climbed 10 cents to 8.46 Pesos.

• Tuesday, March 5th 2013 - 05:33 UTC

  An estimated one million dollars ‘trickled’ per day from Argentina to Uruguayan banks

  

  The dollar ‘clamp’ in Argentina had led to a ‘dollar trickle’ to Uruguayan banks, which according to official data from the two central banks can be estimated at a million dollars per day.

• Tuesday, January 15th 2013 - 06:55 UTC

  Strong ruling party leader ignores Cristina Fernandez ‘dollar clamp’ policy

  

  Following recent criticism from President Cristina Fernández in support of her ‘dollar clamp’ policy, Buenos Aires province Governor Daniel Scioli justified his savings in US dollars by affirming he needs to travel overseas because of his physical problem.

• Monday, January 14th 2013 - 04:02 UTC

  Argentine government ‘dollar clamp’ suffers another court defeat

  

  A court in the Argentine province of Cordoba ordered the Banco Nación to sell US dollars to a teacher, after she was authorized by AFIP tax agency to purchase Brazilian Reais, but could not do so due to lack of currency.

• Friday, January 11th 2013 - 08:36 UTC

  Argentine tourists must pay 8 pesos for the US dollar in neighbouring countries

  

  Following on the climbing tendency since the beginning of the year, the ‘blue’ or ‘parallel’ US dollar traded in Buenos Aires at 7.25 Argentine Pesos with a 46% gap over the ‘official’ dollar that remained relatively stable at 4.95 Pesos.

• Monday, December 10th 2012 - 05:51 UTC

  Dollar clamp represents the failure of Argentina’s energy policy, says Lavagna

  

  Former Economy minister Roberto Lavagna said that it will take Argentina “at least three years” to liberate the country from the ‘dollar clamp’ if as of this month it was decided to execute a policy to end restrictions on the purchase of foreign currency.

• Wednesday, November 21st 2012 - 21:18 UTC

  Another Argentine province confirms ‘pesification’ of dollar-denominated bonds

  

  Another Argentine province, Formosa announced that it would be repaying in Pesos its dollar-denominated bonds (FORM3) issued under local law, at an exchange rate of 4.81 Pesos per dollar.