As the government backtracked on its inflation targets for 2018, the dollar leapt over the 19-peso mark to end at 19.46 pesos on Thursday.
“Out of control and in demand until the end”, was how exchange brokers ABC Cambios described the “unstoppable” dollar, via Twitter.
In one month, the peso has lost 10.4 percent of its value.
Despite significant legislative wins in the Senate this week, the government was forced throughout the final work day of the year to hold off attacks from opposition leaders and the country’s most prominent economic gurus.
Cabinet Chief Marcos Peña told Radio Con Vos that the government “is absolutely certain” that “Argentina is going to grow next year”.
“We don’t see any reason to believe that the economy is going to fall into disarray. There is no concern,” he said, defending the government’s decision to force the Central Bank's hand on 2018 inflation targets.