The Limited Times

Now you can see non-English news...

How far can the dollar rise against the peso in Argentina?

2022-07-05T23:28:58.794Z


After a rise of 21 pesos on Monday, the informal dollar - the one you get on the street - ended today lower, trading on average 252 Argentine pesos.


Uncertainty in Argentina: Is it convenient to buy dollars?

2:04

(CNN Spanish) --

The price of the informal dollar fell this Tuesday in Argentina, after the assumption of Silvina Batakis as Minister of Economy, replacing Martín Guzmán.

The brand new minister had her baptism of the market today, since when she took office this Monday the operations had already been closed.

After a rise of 21 pesos on Monday, the informal dollar - the one you get on the street - ended today lower, trading on average 252 pesos.

Meanwhile, the official price remained almost unchanged and was in the order of 132.5 pesos.

The financial dollars finished the wheel between 272 and 273 pesos, which meant a drop compared to Monday's price.

The big question for analysts remains: how far can the price of the different types of dollars that are traded in the country go up?

The answer, say the same observers, will come in a context of high inflation, strong issuance of pesos to finance Treasury expenses and the redemption of bonds, in addition to measures to cut importers' access to formal dollars, which are seen forced to buy foreign currency in the informal market, which increases the pressure on the value of that dollar.

Batakis arrived at the Ministry of Economy after the unexpected resignation of Martín Guzmán.

Guzmán was part of Fernández's cabinet since he took office, in December 2019, and was one of the most high-profile ministers, in charge of negotiating the debt contracted with the International Monetary Fund (IMF) in the previous administration (it was closed an agreement in March 2022).

advertising

But the economic problems in Argentina, especially inflation and poverty, continued to put pressure on the government of the Frente de Todos coalition, whose greatest exponents are President Fernández and Vice President and former President Cristina Fernández de Kirchner, today facing an internal dispute. since the electoral defeat of the ruling party in the 2021 midterm elections.

Before being sworn in on Monday in the new position, Batakis was the Secretary of Provinces in the Ministry of the Interior of Argentina, and president of the Federal Trust Fund for Regional Infrastructure (FFFIR).

  • Why is the dollar rising against the peso in Colombia?

With information from Germán Padinger

Argentine PesoPrice of the Dollar

Source: cnnespanol

All news articles on 2022-07-05

You may like

News/Politics 2024-01-31T14:00:20.269Z
News/Politics 2024-02-21T15:12:12.464Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.