Welcome to the first of a weekly series highlighting some of what I consider to be the more interesting news from Buenos Aires and Argentina. I find many new things every week and often want to blog about them, but realize that I don’t always have the time to get to them. Hopefully, with these … Read more
We reported that the Argentine peso was expected to fall to $3.80 against the dollar, and it continues to head that way – even with the government spending nearly $1 billion today to prevent it. The peso fell to 3.44 per dollar at one point today before finally closing at 3.39 to the dollar. This … Read more
Bloomberg is reporting that Argentina may ease its defense of the peso, and take a one time devaluation to $3.80 per dollar from $3.208 today. (It’s already slid 5 percent since August 1.) They had originally predicted that the government may simply let it fall through gradual depreciation, but the new measure may come up as a … Read more
Reuters is reporting that the Argentine peso has shrunk to its lowest level against the dollar in 5 1/2 years. The peso slid 2.39 percent to 3.315/3.320 per U.S. dollar, its lowest point since January 2003. The peso has slid 4.65% this year so far. So, the American economy tanks and the dollar gets stronger. … Read more