News of dollar

Economy Ministry to halt Central Bank advances until end of 2020

03-11-2020 12:53 Economy Ministry says it will not ask the Central Bank for temporary advances of cash in November and December and would target local capital markets for financing instead.

As devaluation talk swirls, Argentine traders rush into new bond

02-11-2020 19:18 Amid fears of a steep devaluation, traders in Argentina are falling over themselves to snap up local government notes that are linked to the US dollar.

The peso's got a fever and the only prescription is more dollars

24-10-2020 08:08 Whereas classical economic theory suggests that markets create efficient prices through a cumulative aggregation of information, thus allowing market players to accede to perfect information, the current situation in the City Porteña is one of absolute price opacity.

by Agustino Fontevecchia

When nobody wants pesos: currency meltdown upends business

24-10-2020 05:51 Argentina’s battle to control its currency is upending its economy, wreaking havoc on everything from household finances to the production and sale of common goods.

Blue dollar soars again to close week at 178 pesos

17-10-2020 08:30 Dolár blue has risen by 11 pesos in past week alone, closing week at record high amid continued financial uncertainty.

Fernández says no devaluation of peso on the way

14-10-2020 08:09 Argentina’s government is not going to devalue the peso, President Alberto Fernández said Tuesday night amid widespread speculation on the issue.

Argentina’s currency woes show no sign of easing

10-10-2020 08:31 Argentina’s hodge podge exchange rate regime is running out of steam.

What we learned this week: September 26 to October 3

03-10-2020 09:40 The pick of stories that caught our eye over the last seven days.

Miguel Pesce: ‘A dollar at 130 pesos would inflict unbearable levels of poverty’

26-09-2020 08:45 Following a week of difficult announcements, Central Bank chief Miguel Pesce sits down for a feature-length interview to explain the government’s logic in what he describes as “very arduous situation, aggravated by the action of speculators.” Nevertheless, Pesce remains optimistic over 2021 growth, lower inflation and export possibilities.

by Jorge Fontevecchia

Argentina yield curve inverts as forex controls spook investors

23-09-2020 16:36 Less than a month after Argentina’s US$65-billion debt restructuring, bond prices show growing concern the government may struggle to pay its obligations.

Anything but green

19-09-2020 09:11 The intensified capital controls so rattling market confidence may have been a hasty improvisation but were in no way on the spur of the moment – on the contrary, they stem from months of procrastination and denial.

Fernandez defends new currency controls as blue dollar soars

19-09-2020 08:25 Economists question wisdom of new Central Bank measures, which hit small savers as well as companies. Blue dollar closes week at more than 140 per greenback.

Argentina would ease currency controls if debt talks are successful

29-05-2020 14:56 Central Bank leaders implemented new controls Thursday night, restricting companies’ access to the foreign exchange market to pay for obligations overseas in dollars or other currencies.

Soy farmers bet against peso just as government needs cash

23-05-2020 09:55 Farmer sales have slowed to a crawl because growers think the currency is overvalued. That’s unnerving buyers and the government, which will have to wait for crucial export money.

Central Bank cuts interest rate to 38%

06-03-2020 08:00 In its statement, the Central Bank’s committee said cooling prices justified the rate cut but that the economy wasn’t in the clear yet.

Central Bank lowers key rate to 40%, extending cuts

19-02-2020 18:15 Central Bank chief Miguel Pesce justifies the rate cuts as a tool to help turn around Argentina’s economy, which is expected to contract for the third straight year in 2020.

How the economic crisis came to define 2019

28-12-2019 08:52 As the year draws to a close, Argentina’s economy is in “virtual default,” according to President Alberto Fernández, who has compared the current crisis to the country’s worst-ever in 2001.

Bitter start to wallet-draining Christmas for middle class

21-12-2019 08:58 'Tourist dollar' tax sparks indignation among some, as government pushes legislative package it says will protect “highly vulnerable” Argentines.

Central Bank alters 2019 forecasts: 3% drop in GDP, inflation at 55.6%

05-11-2019 14:15 Monthly survey carried out by Central Bank downgrades forecasts for Argentina's economy.

Fine print on Argentine bonds becomes crucial as default fears grow

01-11-2019 13:28 President-elect Alberto Fernández says Argentina needs debt relief. Investors are paying a premium for bonds that they think will give them more negotiating power in the event of a default.