News of exchange rate

WHAT LIES AHEAD IN 2023

Economy 2023: inflation and austerity in an election year

11-01-2023 23:28 The new year will be in a state of permanent tension, as Argentina grapples with spending cuts contained in the agreement with the International Monetary Fund and the political needs of a president in an election year.

OPINION

2022: the errors of the economists

29-12-2022 02:31 The time has come to do what economists find so uncomfortable and what I find so useful: the annual balance sheet of predictions

by Gustavo González

EXCHANGE MARKET

Argentina’s elaborate ploy to lure tourists has begun

21-12-2022 16:55 In a bid to boost tourism dollars in Argentina, the government is allowing travellers access to an exchange rate that nearly doubles their purchasing power.

Central Bank reserves

Argentina to brings back exchange rate that led to IMF exception

26-11-2022 08:01 Economy Minister Sergio Massa to revive 'soy dollar' currency measure to boost soy exports and prop up Central Bank reserves that generated backlash from the International Monetary Fund.

ECONOMY & POLITICS

Government creates new exchange rate for provincial economies

07-11-2022 17:13 Economy Minister Sergio Massa says government will create new temporary exchange rate for provincial economies.

CURRENCY CONTROLS

Argentina lets tourists tap parallel FX rate to bring in dollars

03-11-2022 12:53 Foreign tourists who use non-Argentine issued credit and debit cards will be charged a more lucrative financial exchange rate known in Spanish as the ‘Dólar MEP’ (Mercado Electrónico de Pagos).

NEW MEASURES

Argentina slaps new taxes on concerts, travel before World Cup

12-10-2022 08:17 Argentina's government is applying new taxes on travel abroad ahead of the World Cup, and on concerts by artists who charge in foreign currency, as it seeks to protect its low reserves and avoid a devaluation.

WORLD ECONOMY

Strong US dollar an unstoppable force endangering other currencies

30-09-2022 14:19 The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a severe currency crash that could reverberate around the world.

Agriculture

Argentine soybeans flood market just as US harvests bumper crop

11-09-2022 10:04 Farmers rush to sell stockpiled soybeans this week after Argentina's government implemented a temporary devaluation of the peso intending to spur exports.

Agriculture

Soy exporters race to exploit new ‘soy dollar’ exchange rate

07-09-2022 17:21 More than two million tons cashed in the first two days of Sergio Massa’s new scheme to boost Central Bank reserves.

MONEY MARKETS

Introduction of ‘soy dollar’ leaves Argentina with seven exchange rates

06-09-2022 15:40 New 'soy dollar' rate, designed to boost exports and boost Central Bank reserves, unveiled by Economy Minister Sergio Massa; Following its arrival, there are now seven other exchange rates already operating in Argentina.

Agriculture

Government creates new foreign exchange rate for soy exporters

05-09-2022 08:29 Argentina's government announces new special exchange rate for the country’s soy producers in a bid to incentivise exports and shore up Central Bank reserves.

Currency crisis

Economy Ministry set to introduce ‘tech dollar’ exchange rate for freelancers

26-08-2022 10:24 Portfolio headed by Sergio Massa is moving forward with plans to introduce a "monotributo tech" exchange rate for freelancers in the knowledge economy.

Bloomberg

Argentina Economy Minister says she has strong political support

27-07-2022 15:55 New Economy Minister for Argentina Silvina Batakis tells Washington reporters she will stabilise economy, claiming strong political support from the government.

Bloomberg

Argentina unveils currency measures as black-market peso slumps

21-07-2022 19:28 Foreign tourists can exchange up to US$5,000 in a new exchange rate revealed by the government, which is attempting to perk up the currency after a slump for the ‘dólar blue'

Bloomberg

Argentina’s black-market peso hits record as crisis mounts

20-07-2022 15:31 The unofficial Argentine peso has dropped to a historic low this Tuesday, which has exacerbated the crisis provoked by the resignation of former Economy minister Martín Guzmán earlier this month.

BLOOMBERG

Overnight 20% price jump supercharges inflation crisis

08-07-2022 11:15 Before the peso plunges even further and before retailers can jack up prices further, Argentines are rushing out to buy their essentials as soon as possible.

NEW ECONOMY MINISTER

Inflation, export duties and IMF: Silvina Batakis’ economic definitions

06-07-2022 23:00 Martín Guzmán’s successor considers that the escalation of prices is a multi-causal phenomenon and defends strong state regulation of the economy. For her, “wages must run ahead of inflation.”

BLOOMBERG - ANALYSIS

Argentina's subsidy cuts mired in doubt under new minister

06-07-2022 22:14 Several analysts insist that a question mark hangs over Silvina Batakis’ commitment to spending cuts penned by Martín Guzmán and the IMF.

BLOOMBERG – ANALYSIS

Three signs show that Argentina is heading to a devaluation

29-06-2022 22:02 Need to increase the monetary base to meet payments on peso debts and finance spending, plus a drop in agricultural exports and an increase in energy imports, all spell trouble for Argentina's currency.

Inflation & Currency

Closing the 'escape valve' – Venezuela pursues de-dollarisation

06-05-2022 10:45 Venezuela is now trying to re-energise its own currency, the bolívar, which has been crippled by devaluation in recent years.

CRYPTOCURRENCIES

Cryptocurrencies prove a lifeline in Argentina’s chaotic economy

10-03-2022 19:32 Workers are increasingly getting paid in cryptocurrency to circumvent exchange controls and to protect them from currency swings and 50 percent inflation.

BLOOMBERG

Miguel Pesce: FX adjustment not included in IMF talks

02-12-2021 14:28 Negotiations to reach an agreement with the International Monetary Fund do not foresee an exchange-rate adjustment, said Central Bank chief Miguel Pesce.

ELECTIONS 2021: ANALYSIS

Inflation, exchange rate turmoil complicates government’s election hopes

08-11-2021 11:20 Incessant price rises and the runaway blue dollar are key concerns for the Peronist government as campaigning for Argentina’s midterm elections enters final week.

by Mirta Fernandez

FINANCIAL TURBULENCE

Currency turbulence continues: Blue dollar closes at 199

05-11-2021 18:26 In the last three weeks, the 'blue' dollar has soared 15 pesos, widening the gap over the official exchange rate and adding to inflationary pressures.

BLOOMBERG

Argentina says banks must maintain USD position through end November

05-11-2021 02:04 Argentina's Central Bank announced Thursday that the country's financial entities must maintain their foreign currency positions until the end of November, according to an emailed statement.

BLOOMBERG – ANALYSIS

Argentina's peso weakens past key level in parallel market

22-10-2021 19:01 Argentina’s parallel exchange rate weakened past a key threshold on Friday, as demand for assets in hard currency climbed ahead of the upcoming midterm elections in November.

Bloomberg

Argentina spawns another FX rate as government clamps down

15-07-2021 14:49 Government steps to regain control over Argentina’s chaotic currency market has led a new unofficial exchange rate to rise to prominence.