News of currency

Milei under pressure for the first time

06-07-2024 05:59 If the doubts regarding Milei’s capacity to preside over Argentina were tied to governability risk, Caputo’s are connected to credibility risk: it’s difficult to see how the current policy framework can be sustainable in time.

by Agustino Fontevecchia

La Rioja Province puts its own ‘quasi-currency’ in circulation

02-07-2024 16:01 New ‘chachos’ enter into circulation, currency honours local caudillo; Provincial Governor Ricardo Quintela announced the plan back in January, which won approval from local legislature a month later.

IMF expects China to reschedule billions in Argentina’s debt

12-06-2024 11:34 IMF expects China to reschedule payments from the US$18-billion swap line that it has extended to Argentina.

Caputo says Argentina will seek new IMF programme to exit 'cepo'

11-06-2024 12:57 Economy Minister Luis Caputo says President Milei’s government intends to “negotiate a new programme” with the International Monetary Fund that will allow Argentina to remove currency controls.

Argentina to offer bonds in first step to lift currency controls

26-04-2024 13:33 President Javier Milei's government readying a new instrument to allow companies to send dividends abroad, a first step to lift a cobweb of restrictions in its foreign-exchange market.

Milei sparks wild rally that makes peso number one in the world

25-04-2024 15:17 Four months into office, President Javier Milei has pulled off a critical feat in a country long ravaged by runaway inflation: stabilising Argentina's currency.

Argentines put US$2.3 billion into banks, signalling faith in Milei

06-03-2024 11:37 If the trend continues, it would be good news for Argentina’s Central Bank, where a portion of savers’ dollar deposits count toward the foreign reserves needed to stabilise the peso. 

Investors bet Argentina crawling peg to speed up to 6% by April

22-02-2024 11:34 Investors see Argentina's crawling peg accelerating to six percent monthly by the start of the second quarter, according to peso futures data.

La Rioja Province government issues its own quasi-currency

17-01-2024 17:30 La Rioja provincial legislature approved printing of new “quasi-currency” alternative to the peso to cover state shortfalls amid austerity cutbacks.

Bitcoin a dud in El Salvador, first country to make it legal tender

11-01-2024 13:10 A poll released Wednesday showed that 88% of El Salvadorans did not use bitcoin last year in El Salvador, the first country anywhere to make the cryptocurrency a form of legal tender.

Investors bet on 44% peso devaluation after Milei’s debut

06-12-2023 15:05 Investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration.

Dollarisation is medium-term goal, Luis Caputo tells bankers

24-11-2023 22:06 Luis Caputo, who is leading Javier Milei’s economic team during the transition, tells banking executives in Buenos Aires that currency controls won't be lifted immediately and that dollarisation is a medium-term goal.

Gov't depletes room to intervene in currency futures ahead of election

20-10-2023 16:47 Central Bank almost out of room to intervene in currency futures, the main avenue it’s been using to prop up the plunging peso.

Recession, inflation, devaluation: Economic troubles in 5 charts

19-10-2023 13:46 Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.

Argentina’s black market peso rate tops 1,000 per dollar

10-10-2023 15:10 Argentina’s black market exchange rate hit a record 1,040 pesos per dollar Tuesday, continuing a sharp sell-off before the October 22 presidential election. 

Central Bank likely to hold rate despite inflation spike

09-10-2023 21:04 Argentina’s Central Bank board plans to keep its benchmark interest rate unchanged despite inflation data hovering around a three-decade high.

Massa’s ‘digital peso’ – what’s the proposal and how would it work?

04-10-2023 16:05 Sergio Massa, Argentina's economy minister and presidential candidate for Unión por la Patria, has announced that he will implement a digital Argentine currency if elected. The proposal is based on a bill that first emerged in 2019 – but what does it say?

Border-crossing Uruguayans enjoy bargain shopping in Argentina

11-09-2023 07:42 Faced with the constant devaluation of Argentina's peso, thousands of Uruguayans cross bridges to the neighbouring country every day to take advantage of cheaper goods and services.

Argentine peso to slide 70% by next year, predicts Bank of America

16-08-2023 11:54 The worst is yet to come for the Argentina peso, already the world’s weakest currency this year, according to Bank of America strategists.

Traders go to US for Argentina stocks to hedge election bet

02-08-2023 13:53 Investors are cautiously looking at US-listed shares of Latin American companies with operations in Argentina, anticipating benefits from market-friendly policies after this year's elections, but refraining from direct investment until long-term stability is established.