News of peso

Government to devalue peso faster while it fights reserves drop

01-10-2020 23:09 The Central Bank will end a policy of “uniform devaluation” and allow greater volatility, according to a statement sent by the institution led by Miguel Pesce after hours Thursday.

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.

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.

It’s also the economy, stupid

22-08-2020 09:39 Why is anybody even talking about judicial reform? Putting the economy back on track evidently requires more than successful debt negotiations.

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.

Government likely to issue second 10,000-peso allowance to families in May

29-04-2020 13:14 Government considering a new round of the ‘Ingreso Familiar de Emergencia’ payment in May, the 10,000-peso subsidy that some eight million single-income earners, people on social benefits and informal workers have signed up for.

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.

Economy Ministry delays payment of AF20 bond principal

11-02-2020 17:07 Economy Ministry, headed by Martín Guzmán, slams "speculation" in fierce statement, saying it would not allow "Argentine society" to be "held hostage by international financial markets."

Government confirms 4,000-peso increase for private-sector workers

06-01-2020 10:31 Labour minister announces rise for private-sector workers, with 3,000 pesos falling due with this month’s wage and the rest in February.

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.

Chile's Central Bank to inject US$4 billion to halt curency slide

14-11-2019 11:05 Chile's currency closed at a new record low for the second day running on Wednesday after losing another 1.5 percent amidst a weeks-long crisis.

Argentina running dangerously low on dollars to pay back debt

12-11-2019 17:18 Argentina must repay US$5 billion by the end of 2019. It doesn’t have much to work with.

Central Bank tightens 'cepo,' sets US$50 limit on cash advances abroad

31-10-2019 22:10 The move comes three days after the Central Bank sharply tightened currency exchange controls to stem a surge in capital flight.

Could dollarisation be Argentina's salvation?

30-10-2019 14:50 To a growing number of respected economists, the only path to a fresh start for Argentina involves embracing the US dollar.

by Mac Margolis

Once-bitten Argentine investors aim to avoid panic on Sunday

23-10-2019 11:33 A victory by Alberto Fernández this weekend would leave investors in a holding pattern as they await clarity on his policies and a the appointment of a cabinet.

Argentina's business elite are desperate to hear an economic plan

22-10-2019 14:08 Executives are resigned to the fact that Macri is going to lose the presidential election, so now they just want to know what Alberto Fernández's plan to save the economy looks like.

Central Bank survey forecasts 65 pesos per dollar by end of 2019

05-10-2019 10:55 The Central Bank’s REM latest survey of 45 economic consultants and think tanks this week did not detect any new inflationary spiral with the forecast for 2019 remaining constant at 54.9 percent.

Uruguayan beef battling to stay competitive amid crisis in Argentina

27-09-2019 09:33 Beef is Uruguay’s top export by value, with shipments rising six percent to US$1.27 billion through mid-September, although volumes have barely risen.

Argentines make 7% returns in minutes thanks to capital controls

10-09-2019 11:19 One system to circumvent the controls is paying a return of seven percent in a matter of minutes, and it’s completely legal. The profit derives from the difference between the so-called “MEP dollar” – which entails buying and selling bonds in different currencies – and the official exchange rate.

Argentine bondholders pull out old guidebook to flee country

08-09-2019 08:55 “Many investors thought Argentina was on its way to becoming Chile or Colombia – stable, investment grade,” said Leo Chialva, a partner at Buenos Aires-based consulting firm Delphos Investment. “Those large funds are horrified by the latest measures.”