News of currency devaluation

‘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.

DEVALUATION FEARS

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.

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.

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.

2023 election

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.

Economy

Fernández rejects devaluation rumours, asks Massa to stay until year-end

19-07-2023 13:22 Argentina's President Alberto Fernandez cautioned against a sharp currency devaluation due to the country's dollar shortage, while concerns of hyperinflation ahead of the upcoming elections.

MARKET RUMOURS

Argentina brokerage apologises after spreading devaluation rumour

22-04-2023 18:26 Brokerage firm Max Capital Valores said it “deeply regretted” spreading misinformation over a currency devaluation of the nation’s official exchange rate.

FINANCIAL TURBULENCE

Massa rejects devaluation speculation as peso sinks

22-04-2023 08:13 Revealing WhatsApp message from Economy Minister Sergio Massa denies market speculation about president's imminent resignation and potential currency devaluation.