The demand for Paraguayan guaranís in the Argentine province of Misiones has been developed as desperate locals are unable to find US dollar bills with which to protect their savings from rampant devaluation and growing inflation, it was reported.
Brazil's Central Bank (BCB) Monetary Policy Committee (Copom) decided once again Wednesday to increase the basic Selic interest rate from 6.25% to 7.75% annually, in what turned out to be the sharpest rise since December 2002, it was announced.
Argentina's basic food basket rose 3.2% in September, according to data released Tuesday by the National Institute of Statistics and Census (Indec).
Argentina's newly-appointed Domestic Trade Secretary Roberto Feletti Thursday announced authorities would closely monitor compliance on the part of retailers regarding 1,247 food and other basic items made available at affordable prices until January 7, 2022.
Given the latest spike of inflation in Chile which jumped 1,2% in September, the central bank council surprised markets by increasing the basic monetary lending rate 125 points, that is from 1,5% to 2,75%, the highest since 2001. The five-member Council decision was unanimous.
Brazil's Central Bank Wednesday took an active role in the currency exchange market and sold US $ 1 billion to avoid a devaluation of the real, which has already lost a third of its value against the US dollar in 2021 alone
Brazilian President Jair Bolsonaro was not allowed to enter a football stadium to watch Gremio's match against Santos because he was not vaccinated against COVID-19.
Unrest reigned Thursday among Venezuelans as Friday's monetary reconversion which will remove six zeros from “sovereign bolivars” loomed over, prompting the exchange rate with the US dollar to skyrocket.
On September 10, 2021, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Brazil. Economic performance has been better than expected, in part due to the authorities’ forceful policy response. GDP regained its pre-pandemic level in 2021Q1 and momentum continues to be favourable, supported by booming terms of trade and robust private sector credit growth.
As expected the Brazilian central bank on Wednesday increased a whole percentage point of its basic Selic interest rate to 6,25%, the fifth in a row and the highest in two years. The Monetary Policy Committee, Copon unanimously voted for the increase in an attempt to contain inflation.