News of exchange rate

Why Milei can’t lift currency controls any time soon

16-10-2024 12:15 Argentina has had strict currency controls in place for the past nine out of 13 years. President Javier Milei wants to get rid of them, but for now, he's sticking to the existing regime.

POLITICS – ANALYSIS

Milei under pressure for the first time

06-07-2024 05:59 If the doubts regarding Milei’s capacity to preside over Argentina were tied to governability risk, Caputo’s are connected to credibility risk: it’s difficult to see how the current policy framework can be sustainable in time.

by Agustino Fontevecchia

UNREST IN BOLIVIA

Growing discontent amid dollar, fuel shortages in resource-rich Bolivia

03-07-2024 10:58 Along with the fuel shortage in Bolivia, which tends to be chronic due to economic problems in imports, there is also a lack of dollars in the country and, consequently, an increase in the exchange rate in the parallel market.

POLITICS & ECONOMY

Milei says legislative win paves way for monetary policy pivot

28-06-2024 13:56 President Milei says government will change its monetary policy framework following his first major legislative victory.

AGRICULTURE & ECONOMY

Argentina has surplus harvest, but farmers want more from Milei

22-06-2024 09:03 Farmers are delaying agricultural sales as they wait for President Javier Milei to eliminate taxes and exchange barriers.

CURRENCY CONTROLS

Argentina to offer bonds in first step to lift currency controls

26-04-2024 13:33 President Javier Milei's government readying a new instrument to allow companies to send dividends abroad, a first step to lift a cobweb of restrictions in its foreign-exchange market.

APPETITE FOR FOREIGN CURRENCY

Dollar fever eases in Milei’s Argentina... good news?

11-03-2024 16:25 Appetite for dollars in Argentina as a shelter against inflation is falling under Milei’s government, but what from afar looks encouraging, smells of recession, declining imports and falling incomes.

Exchange rate woes

Investors bet Argentina crawling peg to speed up to 6% by April

22-02-2024 11:34 Investors see Argentina's crawling peg accelerating to six percent monthly by the start of the second quarter, according to peso futures data.

Economy

Why the Argentine peso is slipping through Milei’s fingers

18-01-2024 23:30 Despite Javier Milei's best efforts, the gap between blue and official rates remains, and the peso has plunged by about a third against the dollar this year.

EMERGENCY MEASURES

The 10 ‘emergency economic measures’ announced by Caputo

12-12-2023 21:42 Economy Minister Luis Caputo announced the devaluation of the peso by over 50 percent to the dollar, as Javier Milei's new government seeks to tackle the country's deep economic woes.

DOLLAR

Fernández leaves with 'blue dollar' close to 1,000 pesos a dollar

07-12-2023 16:54 Argentina's president departs the Casa Rosada having overseen large devaluations in the official and unofficial exchange rates.

by Ramiro Speranza

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.

AGRICULTURE & ECONOMY

Argentina running out of soy adds to next president’s economic woes

16-11-2023 19:05 After the worst drought in six decade, farmers are running out of the very commodity that fuels Argentina’s economy.

DEVALUATION

Argentina begins daily micro-devaluations, days from run-off

16-11-2023 12:36 Four days out from the presidential run-off, Argentina's Central Bank begins micro devaluations of the peso.

CROSS-BORDER SHOPPING

Uruguayans pile into Argentina to spend record US$1 billion

30-10-2023 11:11 Uruguayans are taking advantage of Argentina's deep economic crisis with food, vacations and shopping costing a fraction of the price back home.

ELECTION 2023

Debt, inflation and the peso: Argentina's election worries

17-10-2023 12:27 As Argentines head to the polls on October 22 for a crucial presidential election, candidates have campaigned hard on proposed elixirs for the country's economic ills.

INTERVIEW / PERIODISMO PURO

Carlos Melconian: ‘I believe that there is an opportunity because we have touched bottom’

14-10-2023 05:53 Famous for being the “king of metaphor,” Carlos Melconian will be Argentina’s next economy minister if Patricia Bullrich wins the upcoming election. In an extensive interview he explains his integral plan for putting Argentina back on its feet.

by Jorge Fontevecchia

EDITORIAL

We’ve got the blues again

14-10-2023 05:20 Regardless of whether Milei is an economic terrorist or whether the government is the architect of its own destruction, the problems caused by the extreme volatility of this week’s four-digit dollar are all too real with panic price increases across the board.

DOLLAR

Government unifies rates on dollar purchases abroad

10-10-2023 15:21 Qatar, solidary and card dollar rates unified via AFIP resolution; Cost of accessing dollars for these types of purchases now reaches 100%. Which transactions will it affect?

CURRENCY WOES

'Blue dollar' hits 1,000 – pre-election jitters send peso to new lows

10-10-2023 12:25 Argentina's parallel 'blue dollar' broke through the symbolic 1,000-peso mark in parallel markets on Tuesday as citizens scrambled to dump the currency.

FOREIGN EXCHANGE

‘Blue’ dollar soars – parallel exchange rate nears 900/greenback

06-10-2023 16:18 Movement of people and companies trying to dollarise is being felt given the proximity to the presidential election as exchange rate turbulence continues.

Bloomberg

Peso tumbles with dollarisation rush amping up before vote

05-10-2023 17:25 Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August sell-off.

ELECTION 2023

Javier Milei wows Tucker Carlson, Elon Musk and Argentina’s elite

20-09-2023 14:47 Tucker Carlson, Elon Musk and members of Argentina’s elite are now fans of the radical libertarian who wants to dollarise Argentina’s economy, shut down the Central Bank, slash spending and scrap most taxes.

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.

DOLLARISATION ON THE CARDS?

Argentina’s dollarisation is a ‘bad idea’, top economists say

07-09-2023 13:13 Dollarising Argentina’s economy — as proposed by presidential candidate Javier Milei — is a bad idea that will do little to solve the country’s long-standing fiscal problems, three of Latin America’s most-renowned economists said.

DOLLARISATION ON THE CARDS?

Milei in talks to win foreign financing to dollarise economy

07-09-2023 12:51 Javier Milei is in talks with investment funds abroad to obtain the foreign currency needed to dollarise the economy if elected later this year, reveals top adviser Diana Mondino.

AGRICULTURE & ECONOMY

'Soy dollar' back with 25% foreign currency available to exporters

05-09-2023 12:17 Fifth edition of the 'Export Increase Programme' this time does not include unique exchange rate; Applies to exporters from last 18 months; Details of the new decree and the sector's reaction.

FINANCIAL TURBULENCE

Financial turbulence: ‘Dólar blue’ hits 600 per greenback

09-08-2023 21:35 Parallel exchange rate passes psychological barrier of 600 pesos per dollar in lead-up to this weekend’s PASO primaries.

ELECTIONS 2023

Bullrich would remove FX controls with IMF's help, says Laspina

07-08-2023 08:34 Opposition presidential hopeful would seek greater support from the IMF to untangle currency controls as soon as possible if elected this year, according to top economic adviser Luciano Laspina.

INFLATION WOES

Beef prices to pour more fuel on 116% inflation

07-08-2023 08:28 Decision to temporarily weaken the exchange rate for corn exports — designed to spur shipments abroad — has bumped up domestic feed costs. Now beef prices are set to soar in the coming months.

ELECTION 2023

Rodríguez Larreta plans spending cuts to help peso

13-07-2023 15:51 Juntos por el Cambio presidential hopeful plans to cut spending by 4% of GDP; Move intends to allow peso to weaken gradually to level between official and parallel rates, reveals Lacunza.

CURRENCY WOES

In distorted Buenos Aires rental market, it's dollar vs peso

02-06-2023 10:15 Renting in pesos and on a long-term basis is a titanic task in the capital, where temporary and dollar-denominated supply dominates the market.

FIFA U20 WORLD CUP

Government creates US$50-million workaround for U-20 World Cup

19-05-2023 13:29 Just two days before the kick-off of the Under-20 World Cup, Argentina's government creates exceptional one-off exchange rate for the import of football equipment.

POLITICS – ANALYSIS

Hanging on in quiet desperation

29-04-2023 05:35 The chain of events that will be most consequential in delivering the next inhabitant of the Casa Rosada have already been set in motion. They are irreversible.

by Agustino Fontevecchia

BLOOMBERG - ANALYSIS

Argentina slams on the brakes, keeps foot on accelerator

27-04-2023 23:10 Argentina's Central Bank just raised its rate by 1,000 basis points. What appears to be a sharp brake is too little too late. And it won't save the peso.

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.

NEW EXCHANGE RATE

Argentina debuts ‘Dollar Malbec’ to aid exports amid drought

31-03-2023 10:16 Economy Minister Sergio Massa confirmed Thursday he’s rolling out a temporary, subsidised exchange rate for wine and other agriculture products, dubbed the “Dollar Agro” or “Dollar Malbec” by the local press.

NEW RATE ON WAY

Massa announces new 'dolár agro' exchange rate

30-03-2023 23:20 Argentina looks set to unveil yet another new exchange rate – Sergio Massa's new 'agro dollar' will be used for agricultural products and is another bid to boost Central Bank reserves.

CURRENCY CONTROLS

‘Dolár Malbec’: Argentina plans new exchange rate for wine producers

05-03-2023 08:42 New ‘wine dollar’ set to join country’s alphabet soup of parallel exchange rates, confirms Sergio Massa; Measure set to kick in April 1, with value set to be defined in next 20 days.

WHAT LIES AHEAD IN 2023

Economy 2023: inflation and austerity in an election year

11-01-2023 23:28 The new year will be in a state of permanent tension, as Argentina grapples with spending cuts contained in the agreement with the International Monetary Fund and the political needs of a president in an election year.

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

EXCHANGE MARKET

Argentina’s elaborate ploy to lure tourists has begun

21-12-2022 16:55 In a bid to boost tourism dollars in Argentina, the government is allowing travellers access to an exchange rate that nearly doubles their purchasing power.

Central Bank reserves

Argentina to brings back exchange rate that led to IMF exception

26-11-2022 08:01 Economy Minister Sergio Massa to revive 'soy dollar' currency measure to boost soy exports and prop up Central Bank reserves that generated backlash from the International Monetary Fund.