Buenos Aires Times


Dollar jumps past 23-peso mark after dip in early trade

The dollar kicked off early trade at 22.90 pesos but jumped over the 23-peso mark by midday.

Today 01:51 PM
A teller in Buenos Aires counts US$ 50 bills.
A teller in Buenos Aires counts US$ 50 bills. Foto:Télam

More Economy News

The dollar kicked off early trading on Thursday with a 20-cent drop against the peso.

The dollar had closed at 23.10 pesos on Wednesday. In early trading today, it was fetching 22.90, the Central Bank reported.

Private banks Galicia and ICBC were offering a selling rate of 23.40 pesos, while Macro set its dollar at 22.90 pesos, Noticias Argentinas reported.


The exchange rate has the Mauricio Macri administration on edge.

On Friday morning, less than half a day after the peso had slumped nearly eight percent to a record 23.30 against the dollar, the Central Bank said it would hike its benchmark interest rate to 40 percent – its third raise in a week.

Meanwhile, Treasury Minister Nicolás Dujovne said the government would also cut its fiscal debt target to 2.7 percent of GDP from 3.2 percent.

Dujovne is currently in Washington negotiating a line of credit with the International Monetary Fund (IMF).




Top Stories

  1. 1Pressure on Argentina after World Cup drawPressure on Argentina after World Cup draw
  2. 2UN, IACHR press govt over Maldonado
  3. 3In Argentina, the media is a weapon
  4. 4Elite universities: How 'admissible' are you?
  5. 5IMF says to be in talks with Argentina to strengthen economy 'in short order'
  6. 6Lincoln: international schooling in Argentina
  7. 7Argentina’s foreign debt hits US$216 billion
  8. 8Death flight pilot with 1084-year jail sentence spotted in streets of Madrid
  9. 9Iran's top leader, lawmakers lash out at US on nuclear deal
  10. 10W.H.O urges yellow fever vaccination for travellers to Brazil