News of dollar

Argentina’s peso mess is delivering windfall profits to brokers

14-04-2021 15:12 In Argentina, financial markets are all but dead. From stocks to bonds to traditional foreign-exchange venues, trading volumes are razor thin. Except, that is, in one unusual corner.

CFK CLEARED

‘Dollar futures’: Case against Cristina Fernández de Kirchner dismissed

13-04-2021 22:16 Former president and host of former officials cleared of fraud in relation to futures contracts for the purchase of dollars; three-judge panel unanimously rules to dismiss allegations against vice-president, one of eight graft cases she faces in courts.

THE WEEK

What we learned this week: February 27 to March 6

06-03-2021 09:42 Stories that caught our eye over the last seven days in Argentina.

INTERVIEW

Benjamin Cohen: ‘Dollar will not be challenged by yuan for at least a decade’

06-03-2021 08:22 Benjamin Cohen, one of the founding fathers of International Political Economy (IPE), analyses the monetary aspect of the dispute between the United States and China, while detailing why he describes Argentina “is one of the saddest cases in economic history.”

by Leandro Dario

'DOLLAR FUTURES' CASE

Fernández de Kirchner attacks judicial 'persecution' as corruption case heard

04-03-2021 16:47 Vice-President Cristina Fernández de Kirchner let rip at Argentina's Judiciary on Thursday, accusing the courts of engaging in "persecution" against her as she gave testimony in graft case.

DEBT RESTRUCTURING

Bondholders: ‘Argentina desperately needs agreement with the IMF’

20-02-2021 08:18 Private bondholders group, who previously agreed to restructuring, accuse government of dragging its feet in talks with IMF to “continue its unsustainable policies even longer."

CARLOS MENEM (1930-2021)

The first post-modern president

20-02-2021 07:56 Menem was the emblem of Argentina’s eternal aspiration to be a First World cosmopolitan society.

by Gustavo González

POLITICAL ECONOMY

The anchor: Guzmán’s second mistake?

20-02-2021 07:12 The Fernández administration has doubled down on an economic strategy that appears aimed at winning this year’s midterm elections. Whether or not Economy Minister Martín Guzmán agrees with the plan is debatable.

by Agustino Fontevecchia

AND THAT REMINDS ME...

Your petrol frizzled

23-01-2021 10:19 If Vaca Muerta is indeed a dead cow, then Argentina will end up importing fuel, a move which will surely cost more dollars than those denied YPF to service its debts.

by Michael Soltys

POLITICAL INSTABILITY

On the verge of another nervous breakdown?

14-11-2020 09:16 More of the usual will generate similar outcomes as we’ve seen in the past: stagflation, polarisation, and a growing bureaucracy. It’s time for our political class to take charge of the situation to avert another disaster.

by Agustino Fontevecchia

Bloomberg

Argentina goes all-in to cut record gap with parallel peso

12-11-2020 16:42 Argentina is resorting to all necessary means to reduce the gap between its official and parallel exchange rates.

BLOOMBERG

Argentina gives Templeton, Pimco chance to trim peso holdings

09-11-2020 18:04 Argentina is giving some of its largest bondholders the chance to trim their holdings in one of the world’s worst-performing currencies, offering to swap their local peso securities for dollar-denominated assets.

FINANCIAL TURMOIL

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.

BLOOMBERG

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.

CFK'S OPEN LETTER

Unity, in whatever form

31-10-2020 09:24 Both former presidents have given their blessing to an initial conversation that could work towards a broader social consensus.

by Agustino Fontevecchia

BLOOMBERG

Argentina can avoid a devaluation, says Domingo Cavallo

30-10-2020 14:35 Former economy minister Domingo Cavallo tells Bloomberg in an interview that it’s still possible to avoid a one-off devaluation of the peso.

POLITICS & THE PANDEMIC

Peronism tries to strike back

24-10-2020 08:52 On October 17, the national government tried to regain the initiative. To some observers, Loyalty Day came and passed with some subtle but notable observations.

by Martín Gambarotta

ARGENTINA ON THE RUN

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

ANALYSIS

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.

FINANCIAL TURMOIL

Guzmán: 'There will be no devaluation'

24-10-2020 05:44 Economy minister says currency will depreciate ‘hand-in-hand with inflation,’ as blue dollar soars to close at record high of 195 pesos per greenback.

BLOOMBERG

Creditors blast Argentina for post-restructuring bond blow-up

22-10-2020 22:22 Argentina Exchange Bondholders group and the Argentina Creditor Committee rip government for mismanaging the economy, saying country is headed for disaster just seven weeks after restructuring US$65 billion in debt.

IN FOCUS

Economy Ministry takes steps to relieve pressure on currency markets

21-10-2020 18:59 Economy Ministry unveils new measures designed to reduce the pressures on volatile currency markets and ward off devaluation.

FINANCIAL TURBULENCE

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.

Exchange rate

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.

Financial turmoil

Fernández: Currency market is messy, it needs order

11-10-2020 17:22 In the wide-ranging interview with El Cohete a la Luna, president says Argentina's currency market is messy and must be “ordered.”

FINANCE

Analysts keep eye on reserves as uncertainty pushes blue dollar to 160

10-10-2020 10:05 Central Bank buys dollars for first time since mid-September, as uncertainty pushes blue dollar sky-high.

THE WEEK

What we learned this week: October 3 to 10

10-10-2020 09:56 Our pick of the stories from the last seven days in Argentina.

BLOOMBERG

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.

THE WEEK

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.

Bloomberg

Government mulls temporary cut on some crop export taxes

29-09-2020 17:16 Government weighing temporary reduction on some export taxes to boost dollar inflows, Bloomberg reports.

FINANCIAL TURBULENCE

Argentines are starting to withdraw dollar savings from banks

26-09-2020 09:54 Data suggests savers are now choosing to hold the physical dollars versus keeping them at the bank, on concerns that more severe restrictions could be on the way.

AS I SEE IT

The incredible shrinking peso

26-09-2020 08:58 The desperate attempts that are being made to keep the dollar out of arm’s reach are bound to prove counterproductive; it is the government’s way of inadvertently warning people that, yet again, the economy is going under.

by James Neilson

PERIODISMO PURO | INTERVIEW

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

Bloomberg

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.

POLITICS & THE PANDEMIC

Dollar blues

19-09-2020 09:51 Argentina’s exasperating affair with the dollar is a recurring issue.

by Martín Gambarotta

CAPITAL CONTROLS

Pesce and Guzmán split over curbs on dollar purchases

19-09-2020 09:26 Government’s economic team split on latest crackdown, as well as how long new rules should remain in place.

THE WEEK IN ARGENTINA

What we learned this week: September 12 to 19

19-09-2020 09:18 Stories that caught our eye over the last seven days in Argentina.

EDITORIAL

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.

CAPITAL CONTROLS

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.

CURRENCY CONTROLS

Central Bank tightens currency controls as peso weakens

16-09-2020 10:29 Central Bank tightens conditions for the purchase of foreign currency, to prevent hoarding, preserve reserves and discourage demand for US dollars.

ECONOMIC POLICY

Central Bank optimistic over post-bond swap future

25-08-2020 19:20 Central Bank Governor Miguel Ángel Pesce says closure of the debt swap deal would relieve pressures on exchange markets and improve economic expectations.

ON CAPITAL FLIGHT

Cristina & Macri’s pornographic obsession with the dollar

06-06-2020 08:38 Monetary debasement is a policy that every Argentine government since the return of democracy has collaborated with, and those “smart” enough to play the game have always stored their wealth as far as they can from Argentine pesos, Macri and Cristina included.

by Agustino Fontevecchia

BLOOMBERG

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.

AGRICULTURE

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.

PANDEMIC PONDERINGS

Still quarantined after all these days

16-05-2020 08:00 If the funds are playing the instability game to trigger a political crisis, it’s not happening right here and now. Most of the centre-right opposition leaders holding office have had no choice but to close ranks behind Fernández, who is extremely popular according to polls.

by Martín Gambarotta

BLOOMBERG

Suspension of local debt payments shows not all bondholders are equal

06-04-2020 16:11 Plan to stop payments on some dollar-denominated debt burns investors who put their faith in domestic bonds, improves outlook for holders of international notes.

Bloomberg

Central Bank to pause run of rate cuts

12-03-2020 22:33 Central Bank plans to keep its policy rate unchanged, as it weighs the impact of sell-off on world markets.

RATE CUT

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.

RATE CUT

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.

RATE CUT

Central Bank cuts key interest rate for fifth time since December 10

30-01-2020 21:29 Rate floor cut to 48 percent on Thursday from 50 percent. Central bank chief Miguel Pesce has lowered it from 63 percent since taking office December 10.

News of dollar

Argentina’s peso mess is delivering windfall profits to brokers

‘Dollar futures’: Case against Cristina Fernández de Kirchner dismissed

What we learned this week: February 27 to March 6

Benjamin Cohen: ‘Dollar will not be challenged by yuan for at least a decade’

Fernández de Kirchner attacks judicial 'persecution' as corruption case heard

Bondholders: ‘Argentina desperately needs agreement with the IMF’

The first post-modern president

The anchor: Guzmán’s second mistake?

Your petrol frizzled

On the verge of another nervous breakdown?

Argentina goes all-in to cut record gap with parallel peso

Argentina gives Templeton, Pimco chance to trim peso holdings

Economy Ministry to halt Central Bank advances until end of 2020

As devaluation talk swirls, Argentine traders rush into new bond

Unity, in whatever form

Argentina can avoid a devaluation, says Domingo Cavallo

Peronism tries to strike back

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

When nobody wants pesos: currency meltdown upends business

Guzmán: 'There will be no devaluation'

Creditors blast Argentina for post-restructuring bond blow-up

Economy Ministry takes steps to relieve pressure on currency markets

Blue dollar soars again to close week at 178 pesos

Fernández says no devaluation of peso on the way

Fernández: Currency market is messy, it needs order

Analysts keep eye on reserves as uncertainty pushes blue dollar to 160

What we learned this week: October 3 to 10

Argentina’s currency woes show no sign of easing

What we learned this week: September 26 to October 3

Government mulls temporary cut on some crop export taxes

Argentines are starting to withdraw dollar savings from banks

The incredible shrinking peso

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

Argentina yield curve inverts as forex controls spook investors

Dollar blues

Pesce and Guzmán split over curbs on dollar purchases

What we learned this week: September 12 to 19

Anything but green

Fernandez defends new currency controls as blue dollar soars

Central Bank tightens currency controls as peso weakens

Central Bank optimistic over post-bond swap future

Cristina & Macri’s pornographic obsession with the dollar

Argentina would ease currency controls if debt talks are successful

Soy farmers bet against peso just as government needs cash

Still quarantined after all these days

Suspension of local debt payments shows not all bondholders are equal

Central Bank to pause run of rate cuts

Central Bank cuts interest rate to 38%

Central Bank lowers key rate to 40%, extending cuts

Central Bank cuts key interest rate for fifth time since December 10

From hero to zero: Uruguay's coronavirus boomerang

Joe Biden sounds the retreat

Carlos Tevez seeks to avoid paying Argentina's new wealth tax

Inflation in Argentina speeds up, prompting government crackdown

China's Coronavac 80% effective at preventing Covid deaths, says Chile study

Este domingo llegan 864 mil dosis del "mecanismo Covax" pero se retrasó la Sputnik V

Cristina Kirchner, clases presenciales y Vacunatorio VIP, los reclamos de la marcha del 17A

Taxis, subte y peajes aumentan este domingo tras el alza de los combustibles

Marcha del 17A: intentaron arrojar una valla metálica sobre la reja de Casa Rosada

En lugar de tercera vía, la tercera y la cuarta