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Argentina will devalue the peso by more than 50% as part of emergency measures to help the nation’s struggling economy, the country’s Economy Minister Luis Caputo announced Tuesday.
BUENOS AIRES (Reuters) -Argentina will weaken its peso over 50% to 800 per dollar, cut energy subsidies, and cancel tenders of public works, new Economy Minister Luis Caputo said on Tuesday ...
BUENOS AIRES/LONDON (Reuters) -Argentina's government devalued its currency by nearly 18% on Monday while the benchmark interest rate was raised by 21 percentage points to 118%, the central bank ...
Argentina's peso on the parallel informal market strengthened more than 1.5% against the U.S. dollar on Wednesday, breaking back below the 1,000 per dollar mark and reaching its strongest level ...
LONDON/BUENOS AIRES (Reuters) -Argentina's government allowed the peso currency to plunge over 50% to 801 per dollar on Wednesday as markets cautiously welcomed the first details of President ...
In 1992 a new peso (ISO 4217: ARS) was introduced, referred to as peso convertible since the international exchange rate was fixed by the Central Bank at 1 peso to 1 U.S. dollar, and for every peso convertible circulating, there was a US dollar in the Central Bank's foreign currency reserves. It replaced the austral at a rate of 1 peso = 10,000 ...
The 2018–present Argentine monetary crisis is an ongoing severe devaluation of the Argentine peso, caused by high inflation and steep fall in the perceived value of the currency at the local level as it continually lost purchasing power, along with other domestic and international factors.
The country holds its presidential election on Oct. 22 amid triple-digit inflation, a dramatic erosion of the peso currency, and with two in five people living in poverty.