News of dollar economy

Argentines rush to deposit cash savings as part of Milei policy

09-09-2024 15:08 Dollar deposits have surged 40 percent to US$19.8 billion since he took office December 10, marking the highest levels since late 2019, according to Central Bank data.

UNREST IN BOLIVIA

Growing discontent amid dollar, fuel shortages in resource-rich Bolivia

03-07-2024 10:58 Along with the fuel shortage in Bolivia, which tends to be chronic due to economic problems in imports, there is also a lack of dollars in the country and, consequently, an increase in the exchange rate in the parallel market.

THIRST FOR CURRENCY

Argentines suddenly need pesos after Milei pitched dollarisation

04-06-2024 08:48 More people in Argentina are now selling some of their dollar savings for pesos to make ends meet than those buying greenbacks – the abrupt revival of demand is an unexpected consequence of President Milei's shock-therapy policies.

DOLLARISATION ON THE CARDS?

Milei lays out blueprint toward dollarisation

23-05-2024 01:31 Milei says that after clearing the Central Bank’s balance sheet, Argentina would move toward a free competition of currencies, which means the peso and US dollar would both become legal tender.

RELATIONS WITH CHINA

Central Bank chief Bausili among top officials headed to China

18-04-2024 18:02 Top government officials are preparing to visit China in the next few weeks as President Javier Milei ditches his aggressive rhetoric against Beijing in a bid to deepen ties with a key trade partner.

ECONOMIC POLICY

Milei sets June deadline for lifting of capital controls

08-02-2024 06:24 Casa Rosada has a list of conditions required and assures that the dollar can be kept to around 1,000 pesos.

Economy

Why the Argentine peso is slipping through Milei’s fingers

18-01-2024 23:30 Despite Javier Milei's best efforts, the gap between blue and official rates remains, and the peso has plunged by about a third against the dollar this year.

DEBT SWAP OFFER

Government proposes peso debt swap that may top US$71 billion

05-01-2024 14:30 Argentina’s government is proposing a debt swap to banks in the country that could top US$71 billion for peso notes due this year with the aim of postponing maturities and reducing the financial deficit to zero.

BLOOMBERG – ANALYSIS

‘There is no money’: Argentina begins economic shock remedy

13-12-2023 11:41 Measures include 54% peso devaluation, additional 2% a month; Plan seen as step in the right direction, perhaps insufficient by traders.

EMERGENCY MEASURES

The 10 ‘emergency economic measures’ announced by Caputo

12-12-2023 21:42 Economy Minister Luis Caputo announced the devaluation of the peso by over 50 percent to the dollar, as Javier Milei's new government seeks to tackle the country's deep economic woes.

ECONOMY & EXCHANGE RATE

Milei minister hints new exchange rate of 650 pesos per greenback

05-12-2023 16:40 Economists react with caution, doubt and criticism to incoming Interior Minister Guillermo Francos’ declaration that peso should be at between 600 and 650 per greenback.

MARKETS

Argentina investors cheer Milei victory, brace for peso sell-off

20-11-2023 00:37 Investors cheered libertarian economist Javier Milei’s bigger-than-expected win in Sunday’s presidential vote and his pledge to usher in a radical remake of South America’s second-largest economy.

AGRICULTURE & ECONOMY

Argentina running out of soy adds to next president’s economic woes

16-11-2023 19:05 After the worst drought in six decade, farmers are running out of the very commodity that fuels Argentina’s economy.

FX MARKET

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.

Election 2023 preview

Inflation raging at 130% is pushing Argentina down a radical path

19-10-2023 20:55 Presidential candidate Javier Milei is winning over voters with promises to revive what was once one of the world’s wealthiest nations.

BLOOMBERG – ANALYSIS

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.

DEVALUATION FEARS

Currency fears stall sales of toilet paper, car parts

19-10-2023 13:19 Some firms suspend sales ahead of Sunday's presidential election; Fears of another devaluation are running high as the October 22 vote nears.

Currency woes

A US$500-million cash pile at Argentina’s main airport unnerves banks

19-10-2023 00:06 Banks have seen a sharp increase in dollar withdrawals at their branches ahead of the election. Forced to import cash to meet the surge in demand, a government move meant to stem “irregularities” in foreign trade has compounded concerns.

HELP FROM BEIJING

China lets Argentina tap extra US$6.5 billion from swap line

18-10-2023 14:01 Move comes right before Argentina’s presidential election on Sunday as political uncertainty roils markets and the peso’s parallel exchange rate sells off.

'CEPO' ON WAY OUT?

Baffling Argentina FX rates on borrowed time as election nears

17-10-2023 16:02 The hodgepodge of currency controls put in place in Argentina is likely in its last days.

EDITORIAL

We’ve got the blues again

14-10-2023 05:20 Regardless of whether Milei is an economic terrorist or whether the government is the architect of its own destruction, the problems caused by the extreme volatility of this week’s four-digit dollar are all too real with panic price increases across the board.

POLITICAL AND FINANCIAL UNREST

Recriminations fly as peso flounders ahead of vote

11-10-2023 21:55 President Alberto Fernández files a criminal complaint for "public intimidation" against Javier Milei, blaming the libertarian for the peso's weakening on informal markets.

Election 2023

President denounces Milei for fuelling run on currency

11-10-2023 21:39 President Alberto Fernández confirms he has reported La Libertad Avanza leader Javier Milei and libertarian City mayoral candidate Ramiro Marra to authorities for prompting run on currency.

CURRENCY WOES

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.

CURRENCY WOES

'Blue dollar' hits 1,000 – pre-election jitters send peso to new lows

10-10-2023 12:25 Argentina's parallel 'blue dollar' broke through the symbolic 1,000-peso mark in parallel markets on Tuesday as citizens scrambled to dump the currency.

DOLLARISATION ON THE CARDS?

'Blue dollar' surges to record high as Milei reiterates dollarisation plan

09-10-2023 22:08 Libertarian presidential candidate Javier Milei reiterates desire to dollarise Argentina's economy as parallel 'blue dollar' surges to record 945 pesos per greenback.

FOREIGN EXCHANGE

Banks searched in Argentina due to alleged million-dollar currency flight

05-10-2023 17:26 Eighteen banks were searched on Thursday nationwide as part of investigation into alleged flight of US$400 million through import manoeuvres.

Bloomberg

Peso tumbles with dollarisation rush amping up before vote

05-10-2023 17:25 Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August sell-off.

THIRST FOR DOLLARS

Argentines’ love of dollars creates a windfall for local brokers

02-10-2023 16:53 Argentina’s economic disaster has sent inflation soaring and pushed poverty levels toward a 15-year high. But for local brokerages, the chaos has fuelled a boom unlike anything industry veterans can remember.

Election 2023

Bullrich adviser says dollar, peso will co-exist in Argentina

26-09-2023 23:54 “The peso and the dollar will coexist” if Patricia Bullrich is elected as president, says Carlos Melconian.

ELECTION 2023

Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite

20-09-2023 14:47 Tucker Carlson, Elon Musk and members of Argentina’s elite are now fans of the radical libertarian who wants to dollarise Argentina’s economy, shut down the Central Bank, slash spending and scrap most taxes.

DOLLARISATION ON THE CARDS?

Argentina economists lambast dollarisation proposal as ‘mirage’

11-09-2023 11:38 Economists lambast Javier Milei's proposal to dollarise the nation, calling the idea a mirage and warning it would spawn a new set of challenges.

CROSS-BORDER SHOPPING

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.

DOLLARISATION ON THE CARDS?

Argentina’s dollarisation is a ‘bad idea’, top economists say

07-09-2023 13:13 Dollarising Argentina’s economy — as proposed by presidential candidate Javier Milei — is a bad idea that will do little to solve the country’s long-standing fiscal problems, three of Latin America’s most-renowned economists said.

DOLLARISATION ON THE CARDS?

Milei in talks to win foreign financing to dollarise economy

07-09-2023 12:51 Javier Milei is in talks with investment funds abroad to obtain the foreign currency needed to dollarise the economy if elected later this year, reveals top adviser Diana Mondino.

AGRICULTURE & ECONOMY

'Soy dollar' back with 25% foreign currency available to exporters

05-09-2023 12:17 Fifth edition of the 'Export Increase Programme' this time does not include unique exchange rate; Applies to exporters from last 18 months; Details of the new decree and the sector's reaction.

DOLLARISATION ON THE CARDS?

Voters toy with ditching pesos for dollars

01-09-2023 15:21 In inflation-hit Argentina, where rentals, cars, and appliances are increasingly priced in dollars to sidestep the volatile peso, presidential candidate Javier Milei has sparked debate over whether to officially adopt the currency as a remedy to a battered economy.

ELECTION 2023

Ramiro Marra: ‘Dollarisation would take between nine months and two years’

31-08-2023 14:32 La Libertad Avanza’s mayoral hopeful for Buenos Aires City puts timescale on Javier Milei’s plan to adopt the greenback, but presidential candidate says it will “depend on the people.”

THIRST FOR DOLLARS

Inflation at 100% has Argentines demanding pay in US dollars

23-08-2023 14:12 The use of the dollar, while hardly new in Argentina, is exploding across the country today as inflation soars and destroys the value of the peso.

Currency crisis

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.

THIRST FOR DOLLARS

A guide to Argentina’s many exchange rates

10-08-2023 08:44 Anxiety is showing in markets just days before a key primary vote that will decide who are the candidates for the October 22 election.

FINANCIAL TURBULENCE

Financial turbulence: ‘Dólar blue’ hits 600 per greenback

09-08-2023 21:35 Parallel exchange rate passes psychological barrier of 600 pesos per dollar in lead-up to this weekend’s PASO primaries.

Economy

Argentina's public debt reaches a new record above US$400 billion

19-07-2023 18:33 In June, public debt increased by almost US$ 5 billion to US$ 400 billion. Specialists have conducted analyses on sustainability.

BLOOMBERG - ANALYSIS

Dollars are so scarce in Argentina that yuan use is at a record

26-06-2023 13:46 Yuan’s share of forex transactions hit record 28% this month; Dollars in short supply amid surging inflation, crop failures.

BEIJING & BUENOS AIRES

Argentina renews China currency swap deal to strengthen reserves

02-06-2023 16:39 Government renews three-year currency swap line with China in bid to boost Central Bank reserves.

BUENOS AIRES & BEIJING

China allows Argentina to spend up to US$10 billion of currency swap line

02-06-2023 13:20 Chinese officials approve Argentina tapping up to 70 billion yuan (US$9.89 billion) of currency swap line, double the previous limit, according to a Central Bank statement.

CURRENCY WOES

In distorted Buenos Aires rental market, it's dollar vs peso

02-06-2023 10:15 Renting in pesos and on a long-term basis is a titanic task in the capital, where temporary and dollar-denominated supply dominates the market.

CURRENCY SWAP

Argentina seeks bigger China swap line to prevent peso sell-off

24-05-2023 10:48 Argentina’s government is asking China for an expansion of its bilateral currency swap in yuan as it seeks to build up reserves.

BLOOMBERG – ANALYSIS

Argentina is going broke to stall a full-on currency collapse

10-05-2023 15:25 Battle to prevent peso from facing a total meltdown is leaving the Central Bank, by some estimates, broke.

ECONOMIC INDICATORS

Argentines pulled US$1 billion from bank accounts in April rush

05-05-2023 13:31 Citizens across the country withdrew over US$1 billion of US dollar deposits from the banking system from late March to the end of April amid rumours of currency devaluation in official exchange rate.

News of dollar economy

Argentines rush to deposit cash savings as part of Milei policy

Growing discontent amid dollar, fuel shortages in resource-rich Bolivia

Argentines suddenly need pesos after Milei pitched dollarisation

Milei lays out blueprint toward dollarisation

Central Bank chief Bausili among top officials headed to China

Milei sets June deadline for lifting of capital controls

Why the Argentine peso is slipping through Milei’s fingers

Government proposes peso debt swap that may top US$71 billion

‘There is no money’: Argentina begins economic shock remedy

The 10 ‘emergency economic measures’ announced by Caputo

Milei minister hints new exchange rate of 650 pesos per greenback

Argentina investors cheer Milei victory, brace for peso sell-off

Argentina running out of soy adds to next president’s economic woes

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

Inflation raging at 130% is pushing Argentina down a radical path

Recession, inflation, devaluation: Economic troubles in 5 charts

Currency fears stall sales of toilet paper, car parts

A US$500-million cash pile at Argentina’s main airport unnerves banks

China lets Argentina tap extra US$6.5 billion from swap line

Baffling Argentina FX rates on borrowed time as election nears

We’ve got the blues again

Recriminations fly as peso flounders ahead of vote

President denounces Milei for fuelling run on currency

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

'Blue dollar' hits 1,000 – pre-election jitters send peso to new lows

'Blue dollar' surges to record high as Milei reiterates dollarisation plan

Banks searched in Argentina due to alleged million-dollar currency flight

Peso tumbles with dollarisation rush amping up before vote

Argentines’ love of dollars creates a windfall for local brokers

Bullrich adviser says dollar, peso will co-exist in Argentina

Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite

Argentina economists lambast dollarisation proposal as ‘mirage’

Border-crossing Uruguayans enjoy bargain shopping in Argentina

Argentina’s dollarisation is a ‘bad idea’, top economists say

Milei in talks to win foreign financing to dollarise economy

'Soy dollar' back with 25% foreign currency available to exporters

Voters toy with ditching pesos for dollars

Ramiro Marra: ‘Dollarisation would take between nine months and two years’

​​Inflation at 100% has Argentines demanding pay in US dollars

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

A guide to Argentina’s many exchange rates

Financial turbulence: ‘Dólar blue’ hits 600 per greenback

Argentina's public debt reaches a new record above US$400 billion

Dollars are so scarce in Argentina that yuan use is at a record

Argentina renews China currency swap deal to strengthen reserves

China allows Argentina to spend up to US$10 billion of currency swap line

In distorted Buenos Aires rental market, it's dollar vs peso

Argentina seeks bigger China swap line to prevent peso sell-off

Argentina is going broke to stall a full-on currency collapse

Argentines pulled US$1 billion from bank accounts in April rush

Lower house deputies back Milei’s veto of university funding bill

World Bank highlights falling inflation in Argentina but warns of economic decline

Banco de la Nación, Argentina’s largest bank, wants to sell debt after 30-year hiatus

Crypto platform Rainbow Exchange suspends payments in Argentina amid pyramid scheme claims

Oil workers strike after death after Vaca Muerta drilling field

La camioneta Dodge Journey que provocó el allanamiento a la casa de la dirigente cercana a Juan Grabois

No cesa la polémica: “Los salones de fiestas hemos quedado excluidos del pago de Sadaic y Aadi Capif”

"Toto" Caputo a la diputada cordobesa Alejandra Torres: "Nosotros también estamos a favor de las universidades públicas"

San Pedro: advierten que la empresa acusada de ser un esquema ponzi operará con otra criptomoneda

El huracán Milton bajó su intensidad pero causó múltiples destrozos, inundaciones y cortes de luz masivos

Inflation at 100% has Argentines demanding pay in US dollars