Buenos Aires Times

economy Seventh consecutive rise

Dollar hits new record of AR$18.34 pesos

In the first 11 months of 2017, the peso shed eight percent of its value against an accumulated rate of inflation of 19.4 percent.

Friday 22 December, 2017
The dollar surpassed the 19-peso mark in late December on news the government was downgrading its inflation target for 2018 from 10 to 15 percent.
The dollar surpassed the 19-peso mark in late December on news the government was downgrading its inflation target for 2018 from 10 to 15 percent. Foto:Cedoc-Perfil

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Currency exchange houses in Buenos Aires were today selling US dollars at a rate of AR$18.34 pesos, an increase of 11 cents that marked the seventh consecutive decline in the value of the Argentine peso.

End-of-year demand for the dollar among banks, companies and investors is not unusual.

Banks and foreign traders were selling dollars at AR$18.09. On the black market, buyers could expect to pay AR$18.38.

At the beginning of December, the dollar had dropped to AR$17.50, its lowest level in three months, on the back of complaints from industry about a loss of competitiveness.

In the first 11 months of the year, the peso shed eight percent of its value against an accumulated rate of inflation of 19.4 percent.

-TIMES/PERFIL

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