News of peso

Government hails ‘success’ of 4.34-trillion local debt swap

10-03-2023 10:52 Argentina swaps 4.34 trillion pesos ($21.66 billion) in domestic debt, exchanging 64% of maturing notes for new ones due in 2024 and 2025.

POLITICS & ECONOMY

Opposition slams government’s plans for peso debt swap

06-03-2023 14:41 Opposition economists slam impending peso debt swap between the government and local banks, saying it will add to the fiscal problems facing next administration in December.

JOINT CURRENCY PLAN

Brazil and Argentina are discussing whether to combine currencies

23-01-2023 09:31 Argentina and Brazil are in the preliminary stages of renewing discussions on forming a common currency for financial and commercial transactions, the leaders of the two nations reveal.

Bloomberg

Banks need more vault space to store piles of pesos

19-01-2023 03:02 Peso bills are depreciating so quickly that banks are running out of space to store bank notes.

EXCHANGE MARKET

Argentina’s black-market peso slumps to record ahead of holidays

29-12-2022 15:33 Argentina's black market exchange rate plunged to a record low this week, with the blue dollar hitting 357 pesos per greenback.

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

INTEREST RATES

Central Bank poised to hold the key rate at 75% into next year

30-11-2022 08:34 Central Bank tracking suggests monthly inflation could slow to about 5.5% in November, down from 6.3% in October.

FOREIGN POLICY & DIPLOMACY

Argentina says China will increase swap line by US$5 billion

15-11-2022 21:36 China will increase its currency swap programme with Argentina by 35 billion yuan (US$5 billion), President Alberto Fernández tells reporters.

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 WOES

Tourists pay with wads of cash as inflation nears 100%

27-10-2022 16:04 Paying with cash is becoming increasingly cumbersome in Argentina as inflation gallops toward 100%.

Bloomberg

Argentina must aim to let the peso float, says Rodríguez Larreta

21-10-2022 14:04 Buenos Aires City Mayor Rodriguez Larreta speaks in an interview; Opposition leader says economic strategy needs political accord first.

CURRENCY CONTROLS

Qatar and Coldplay: Argentina multiplies its exchange rates

13-10-2022 01:43 The 'dólar Catar' and 'dólar Coldplay' were added to Argentina's exchange control jargon on Wednesday.

NEW MEASURES

New taxes slapped on concerts, spending on cards overseas

12-10-2022 16:04 Aiming to "protect reserves for production and job creation,” the National Government introduces new levies to discourage purchases in dollars with debit and credit cards; New measures affect foreign currency purchases in excess of US$300, trips abroad and luxury goods.

economy

Central Bank hikes interest rates to 75% as inflation nears 100%

15-09-2022 23:17 Central Bank boosts benchmark Leliq rate by 5.5 percentage points to 75% in a bid to prop up its currency and curb inflation.

INTEREST RATES

Central Bank set to hike rates again on price spike

01-09-2022 01:54 Central Bank set to increase benchmark Leliq rate again next month as annual inflation rises above 70%.

increasing debt

Debt has grown almost US$3 billion a month for last year

26-08-2022 11:11 Last month, the gross debt in a situation of normal payment rose to US$378.307 billion – around US$17 billion more than at the start of the year and US$35.747 billion more than July last year. In other words, the current fiscal deficit is close to three percent of gross domestic product, far from the targets pledged to the International Monetary Fund (IMF), whose review will begin in a few weeks. To meet them, the Central Bank would have to recover almost US$6 billion of reserves by December.

CENTRAL BANK

Argentina raises key interest rate to 69.5% in biggest hike since 2019

11-08-2022 16:40 Argentina’s Central Bank raises benchmark Leliq rate in largest hike in almost three years, signalling a more aggressive stance against surging inflation.

Bloomberg

Argentina is running out of cash to stave off devaluation

02-08-2022 18:10 Argentina teeters on the precipice of severe financial crisis. Peso devaluation looms, with potential for hyperinflation.

Bloomberg

Argentina’s bonds rise amid reports of a cabinet shakeup

28-07-2022 15:34 The markets have responded favourably to rumours Economy Minister Silvina Batakis could be replaced by lower house speaker Sergio Massa, which was reported by local media late Wednesday night.

Economic crisis

Markets react negatively to change of economy minister

04-07-2022 17:30 The peso depreciated sharply against the dollar in the informal market on Monday as investors reacted to the appointment of Silvina Batakis as economy minister.

BLOOMBERG

Argentina’s black market peso sinks on economy minister shake-up

04-07-2022 14:16 Argentina’s black market exchange rate tumbled on Monday after left-leaning economist Silvina Batakis was appointed as the new economy minister.

Currency crisis

The fateful 30th month of the Fernández-Fernández administration

02-07-2022 07:00 President Alberto Fernández has been hit by a crippling run on the peso that has stretched out over several weeks during the 30th month of his Presidency, as an exhausted economic model has failed to generate confidence and Central Bank reserves.

by Agustino Fontevecchia

LIVING WITH CRISIS

Argentina remains hooked on ‘dollar-dependence’

30-06-2022 00:37 Argentines do their accounts in dollars, traumatised by recurrent economic crises and tormented by the inflation that is eating away at their pockets and is projected to exceed 60% this year.

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.

Finance & Markets

'Blue dollar' continues to rise amid financial turbulence

28-06-2022 17:46 Parallel dollar quoted at 239 for sale, reaching 242 in some provinces; Country risk soars to record high.

MONETARY POLICY

Argentina raises benchmark rate to 52% as inflation stays hot

16-06-2022 16:54 Central Bank raises benchmark interest rate for the sixth time this year as the government struggles to cool inflation expectations.

Banknotes

Pesos get political with new bills featuring ‘national heroes and heroines’

25-05-2022 15:27 President Alberto Fernández’s government moves to replace endangered wildlife designs introduced by Mauricio Macri administration with historical icons; Three women among those to feature on new banknotes, including Juana Azurduy and Maria Remedios del Valle.

AND THAT REMINDS ME…

The maybes of May

14-05-2022 00:01 Today’s anniversary is nowhere in the current agenda with plenty of issues to absorb our attention, yet stopping to recall the Menem years would not go amiss.

by Michael Soltys

CENTRAL BANK

Argentina's Central Bank raises key rate to 44.5% as inflation heats up

23-03-2022 15:42 Central Bank raises benchmark rate for the third time this year as inflation continues to speed up.

BLOOMBERG

Argentina’s Central Bank raises key rate to 42.5%

18-02-2022 03:00 Second rate hike this year; IMF staff have called for interest rates in Argentina to exceed annual inflation.

ECONOMIC INDICATORS

Inflation reached 3.9% in January, lifting annual rate to 50.7%

15-02-2022 22:08 Consumer prices rose 3.9% in January as inflation accelerated for a second straight month, the INDEC national statistics bureau reported on Wednesday.

BLOOMBERG – ANALYSIS

Inflation accelerates for second straight month

15-02-2022 21:55 Argentina’s inflation accelerated for the second consecutive month in January as the Central Bank sped up the pace of its controlled currency devaluations.

ECONOMIC INDICATORS

Peso weakens against dollar in parallel exchange markets

26-01-2022 18:34 Argentina's currency depreciated even further on parallel foreign exchange markets on Wednesday, hitting a record 221 pesos per US dollar.

BLOOMBERG

Argentina asks China to expand yuan swap to strengthen reserves

26-01-2022 13:48 Argentina has already requested the increase and the topic will be discussed next week in Beijing with Chinese President Xi Jinping when President Alberto Fernández travels there for the Winter Olympics, a second person said.

BLOOMBERG

Central Bank hikes rate for first time in a year

07-01-2022 01:41 Argentina raised its benchmark interest rate for the first time in over a year as it faces calls from the International Monetary Fund to tighten its monetary policy.

BLOOMBERG

Argentina pitches its weak currency to attract digital nomads

02-12-2021 14:08 To make up for lost tourism, Buenos Aires wants international remote workers to take advantage of favourable exchange rates.

FINANCIAL TURBULENCE

Central Bank reserves at the limit as rumours swirl around Argentina

30-11-2021 21:40 Ecolatina consultancy firm forecasts that Central Bank reserves could end the year lower than in December 2020. Concerns remain about the level of money available to the BCRA, but economists rule out a potential 'corralito.'

by Brenda Funes

NEW CENTRAL BANK RESTRICTIONS

Kulfas defends new rules: ‘Middle class has many options for the summer’

28-11-2021 09:08 Productive Development Minister Matías Kulfas becomes the latest government minister to take to the airwaves to defend new Central Bank rules on credit card purchases in dollars.

EXCHANGE CONTROLS

Argentina tightens exchange controls to curb outflows of dollars

26-11-2021 03:06 Argentina’s Central Bank publishes two new measures intended to curb access to hard currency amid expectations for a devaluation.

BLOOMBERG

Dollar-strapped Argentina eyes help from record grain exports

24-11-2021 17:17 Argentina's bumper wheat and barley crops and high prices are on track to give the government some breathing room with the peso.

FINANCIAL TURBULENCE

Blue dollar takes a breather after week of turbulence

12-11-2021 22:04 The so-called ‘Blue Dollar’ fell to 202 pesos per greenback on the last business day before the elections.

Finance & Markets

Currency turbulence continues in lead-up to midterms

10-11-2021 22:49 Argentina's currency fell sharply on Wednesday in unofficial exchanges, with the so-called 'blue dollar' selling at an all-time high of 205 pesos.

BLOOMBERG

Argentina will let foreign tourists bring in dollars at a lucrative rate

29-10-2021 15:02 Foreigners travelling to Argentina will be able to exchange up to US$5,000 to pesos at the more lucrative MEP (Medio Electrónico de Pagos) rate using a temporary bank account, according to new Central Bank rules.

ECONOMY MINISTER

Martín Guzmán: ‘There will be no devaluation’

25-10-2021 11:02 Argentina’s economy minister plays down rumours of an upcoming devaluation, declares that record US$57-billion IMF credit-line was “a political loan” that helped finance Mauricio Macri’s re-election campaign.

CURRENCY

Pre-election jitters send blue dollar, country risk rate soaring

22-10-2021 21:56 Peso weakens in parallel and informal exchange rates, sending JP Morgan ‘country risk’ rate soaring.

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 – ANALYSIS

Argentines are desperate for dollars as bets on devaluation soar

21-10-2021 14:31 Argentine investors are growing increasingly pessimistic on the peso, betting it’s inevitable the government will be forced to speed up devaluation after November elections.

BUDGET 2022

Argentina's 2022 Budget sees primary deficit falling to 3.3%

16-09-2021 10:24 Budget bill, presented to the Chamber of Deputies just before midnight on Wednesday, forecasts inflation reaching 33% in 2022.

GUEST VOICE

The challenge of reducing the gap between exchange rates

04-09-2021 10:39 Continuing the current chasm is a recipe threatening economic revival and halting investments.

by Miguel Kiguel

IMF BOOST

IMF’s special drawing rights gives boost to Central Bank reserves

23-08-2021 21:42 International Monetary Fund boost of special drawing rights lifts Argentina's Central Bank reserves to highest amount in almost three years.

News of peso

Government hails ‘success’ of 4.34-trillion local debt swap

Opposition slams government’s plans for peso debt swap

Brazil and Argentina are discussing whether to combine currencies

Banks need more vault space to store piles of pesos

Argentina’s black-market peso slumps to record ahead of holidays

2022: the errors of the economists

Central Bank poised to hold the key rate at 75% into next year

Argentina says China will increase swap line by US$5 billion

Government creates new exchange rate for provincial economies

Tourists pay with wads of cash as inflation nears 100%

Argentina must aim to let the peso float, says Rodríguez Larreta

Qatar and Coldplay: Argentina multiplies its exchange rates

New taxes slapped on concerts, spending on cards overseas

Central Bank hikes interest rates to 75% as inflation nears 100%

Central Bank set to hike rates again on price spike

Debt has grown almost US$3 billion a month for last year

Argentina raises key interest rate to 69.5% in biggest hike since 2019

Argentina is running out of cash to stave off devaluation

Argentina’s bonds rise amid reports of a cabinet shakeup

Markets react negatively to change of economy minister

Argentina’s black market peso sinks on economy minister shake-up

The fateful 30th month of the Fernández-Fernández administration

Argentina remains hooked on ‘dollar-dependence’

Three signs show that Argentina is heading to a devaluation

'Blue dollar' continues to rise amid financial turbulence

Argentina raises benchmark rate to 52% as inflation stays hot

Pesos get political with new bills featuring ‘national heroes and heroines’

The maybes of May

Argentina's Central Bank raises key rate to 44.5% as inflation heats up

Argentina’s Central Bank raises key rate to 42.5%

Inflation reached 3.9% in January, lifting annual rate to 50.7%

Inflation accelerates for second straight month

Peso weakens against dollar in parallel exchange markets

Argentina asks China to expand yuan swap to strengthen reserves

Central Bank hikes rate for first time in a year

Argentina pitches its weak currency to attract digital nomads

Central Bank reserves at the limit as rumours swirl around Argentina

Kulfas defends new rules: ‘Middle class has many options for the summer’

Argentina tightens exchange controls to curb outflows of dollars

Dollar-strapped Argentina eyes help from record grain exports

Blue dollar takes a breather after week of turbulence

Currency turbulence continues in lead-up to midterms

Argentina will let foreign tourists bring in dollars at a lucrative rate

Martín Guzmán: ‘There will be no devaluation’

Pre-election jitters send blue dollar, country risk rate soaring

Argentina's peso weakens past key level in parallel market

Argentines are desperate for dollars as bets on devaluation soar

Argentina's 2022 Budget sees primary deficit falling to 3.3%

The challenge of reducing the gap between exchange rates

IMF’s special drawing rights gives boost to Central Bank reserves

Scaloni prepares to ring the changes for Argentina's friendly against Curaçao

Argentina default on foreign currency debt 'imminent,' says Fitch

Alberto Fernández lands in New York ahead of Biden bilateral

Growing concern over rise in dengue and chikungunya cases

Inside Macri's withdrawal and what it means for PRO's presidential hopefuls

El falaz argumento de moda que usan los malvinenses para justificar la permanencia británica en Malvinas

Tras la renuncia de Macri, Vidal pidió a candidatos de JxC reglas y plan económico

Massa y Taiana anunciaron la rejerarquización de las Fuerzas Armadas

Santiago del Estero se llenó de luces: ¿flota de ovnis o satélites?

Lluvias y otro descenso de temperatura: como será el clima durante la semana