Tag #Peso

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aljazeera.com

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Sep 9, 04:19

Argentina's Peso Plummets After Peronist Election Win

Following a significant Peronist victory in Argentinan local elections, the peso fell to a record low against the US dollar, and the benchmark stock index plunged by 10.5 percent, raising concerns about the government's economic reform agenda.

Argentina's Peso Plummets After Peronist Election Win

Following a significant Peronist victory in Argentinan local elections, the peso fell to a record low against the US dollar, and the benchmark stock index plunged by 10.5 percent, raising concerns about the government's economic reform agenda.

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What was the immediate market reaction to the Peronist electoral victory in Argentina?

The peso depreciated nearly 5 percent against the US dollar, reaching a historic low of 1434 per greenback. Concurrently, Argentina's benchmark stock index plummeted by 10.5 percent, and its US-traded stocks fell over 15 percent. Some international bonds experienced their most significant declines since 2020.

elpais.com

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Sep 2, 13:20

Argentina's Peso Devaluation Fuels Economic Concerns Ahead of Elections

Argentina's peso devaluated by almost 2% on Monday, reaching 1,385 pesos per dollar, raising concerns about inflation and economic stability ahead of legislative elections, despite the government's claims that the situation is under control.

Argentina's Peso Devaluation Fuels Economic Concerns Ahead of Elections

Argentina's peso devaluated by almost 2% on Monday, reaching 1,385 pesos per dollar, raising concerns about inflation and economic stability ahead of legislative elections, despite the government's claims that the situation is under control.

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What are the long-term implications of Argentina's current economic policies and the recent peso devaluation?

The high-interest rates risk a fiscal deficit, and the lack of international reserves leaves Argentina vulnerable to speculation. The government's strategy, while aiming for stability, risks a recession and further erodes public confidence, potentially impacting future foreign investment and economic growth.

elmundo.es

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Apr 12, 01:15

Argentina Ends Currency Controls, Seeks IMF Support Amid High Inflation

Argentina ended currency controls on Friday, letting the peso float freely between 1000 and 1400 per dollar, supported by a $20 billion IMF loan and additional funds from multilateral banks, aiming to curb inflation and attract investment despite recent inflation reaching 3.7% in March.

Argentina Ends Currency Controls, Seeks IMF Support Amid High Inflation

Argentina ended currency controls on Friday, letting the peso float freely between 1000 and 1400 per dollar, supported by a $20 billion IMF loan and additional funds from multilateral banks, aiming to curb inflation and attract investment despite recent inflation reaching 3.7% in March.

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How will the IMF loan and support from other multilateral banks influence Argentina's economic stability and inflation?

This move follows March inflation reaching 3.7%, up from 2.2% in January and 2.4% in February. The government hopes that eliminating currency controls will increase liquid reserves by $23.1 billion this year and curb inflation. The IMF loan, along with funds from multilateral banks, supports this strategy.

dw.com

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Apr 12, 22:11

Argentina Lifts Currency Controls After $20 Billion IMF Bailout

Argentine President Javier Milei announced the elimination of most capital and currency controls, allowing the peso to float freely within a range of 1,000-1,400 per dollar, effective April 14th, following a $20 billion IMF bailout deal—Argentina's 23rd—aimed at addressing persistent economic crises...

Argentina Lifts Currency Controls After $20 Billion IMF Bailout

Argentine President Javier Milei announced the elimination of most capital and currency controls, allowing the peso to float freely within a range of 1,000-1,400 per dollar, effective April 14th, following a $20 billion IMF bailout deal—Argentina's 23rd—aimed at addressing persistent economic crises...

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What are the immediate implications of Argentina's decision to lift most capital and currency controls?

President Javier Milei announced Argentina will eliminate most capital and currency controls, letting the peso float freely within a 1,000-1,400 range per dollar and easing individual access to official exchange markets. This follows a $20 billion bailout deal with the IMF, Argentina's 23rd such agreement, reflecting its persistent economic struggles.", "The new policy, effective April 14th, aims to attract foreign investment and stabilize the economy. It allows individuals to buy up to $200 per month officially, ending prior restrictions.", "The IMF praised Milei's austerity program and zero-deficit fiscal policy. While the government says the policy isn't a devaluation, economists expect a peso depreciation. This move aims to attract much-needed investment to help transform Argentina's economy.

elpais.com

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Mar 4, 19:17

US Tariffs on Mexico Trigger Global Market Decline

On Tuesday, the Mexican peso depreciated by 0.57% due to US tariffs, causing global market declines and prompting retaliatory tariff announcements from Mexico and China; the Nasdaq dropped 2.6%.

US Tariffs on Mexico Trigger Global Market Decline

On Tuesday, the Mexican peso depreciated by 0.57% due to US tariffs, causing global market declines and prompting retaliatory tariff announcements from Mexico and China; the Nasdaq dropped 2.6%.

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What are the immediate economic consequences of the US tariffs imposed on Mexico?

The Mexican peso depreciated 0.57% (11.8 centavos) to 20.80 pesos per dollar on Tuesday, marking a four-session decline of 1.69% (34.6 centavos). This devaluation is linked to the US-imposed tariffs on Mexican goods, impacting global markets and triggering retaliatory measures from China and Mexico.

elpais.com

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Sep 3, 01:18

Argentina's Milei Shifts Currency Policy Amid Peso Plunge

Facing a collapsing peso, Argentine President Javier Milei's government reversed its free-float policy, intervening in the currency market after initially denying any such action, despite the move contradicting its agreement with the IMF.

Argentina's Milei Shifts Currency Policy Amid Peso Plunge

Facing a collapsing peso, Argentine President Javier Milei's government reversed its free-float policy, intervening in the currency market after initially denying any such action, despite the move contradicting its agreement with the IMF.

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How does the government's intervention in the currency market contradict its previous commitments?

The intervention contradicts Milei's government's commitment to the International Monetary Fund (IMF) to accumulate currency reserves as a condition for a \$20 billion loan. The sale of approximately \$300 million in reserves to support the peso runs counter to this commitment, raising investor concerns about debt repayment.

elpais.com

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Jul 17, 01:10

Argentina Intervenes in Currency Market Amid Peso Instability

Facing market instability due to a rising US dollar, Argentina's government intervened, blaming banks for not supporting its policies, after canceling Letras Fiscales (LEFI), releasing 15.5 billion pesos into circulation, causing a sharp increase in the dollar's value; the government responded with ...

Argentina Intervenes in Currency Market Amid Peso Instability

Facing market instability due to a rising US dollar, Argentina's government intervened, blaming banks for not supporting its policies, after canceling Letras Fiscales (LEFI), releasing 15.5 billion pesos into circulation, causing a sharp increase in the dollar's value; the government responded with ...

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How did the government's decision to cancel Letras Fiscales (LEFI) contribute to the recent increase in the US dollar's value against the Argentine peso?

The government's intervention follows the partial lifting of currency restrictions in April and a shift to a floating exchange rate system. The initial success in stabilizing the peso faltered, leading to a 10% increase in the dollar's value over the past month. This instability is linked to the government's decision to cancel Letras Fiscales (LEFI), a financial instrument designed to absorb excess pesos, releasing 15.5 billion pesos back into circulation and putting upward pressure on the dollar.

zeit.de

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Apr 12, 07:14

Argentina Eases Currency Controls After Securing $32 Billion in International Loans

Argentina's central bank eased currency controls, allowing unlimited US dollar purchases and a floating exchange rate between 1,000 and 14,000 pesos per dollar, following $32 billion in loans from the IMF and World Bank to address its economic crisis.

Argentina Eases Currency Controls After Securing $32 Billion in International Loans

Argentina's central bank eased currency controls, allowing unlimited US dollar purchases and a floating exchange rate between 1,000 and 14,000 pesos per dollar, following $32 billion in loans from the IMF and World Bank to address its economic crisis.

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How will the influx of funds from the IMF and World Bank impact Argentina's economic policies and reforms?

The move is a response to Argentina's economic crisis, characterized by high inflation and a large debt. The influx of international aid is intended to support the government's economic reforms and prevent further devaluation of the peso. The previous limits on dollar purchases were a major constraint on the economy.

elpais.com

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Apr 8, 10:12

Mexico's Peso Plummets Despite Tariff Exemption Amidst Global Market Turmoil

Despite being excluded from new US tariffs, Mexico's peso experienced a significant devaluation this week (1.32% on Monday alone, 3.88% since Thursday), due to global market reactions to the US-China trade war and investors' flight to safer assets.

Mexico's Peso Plummets Despite Tariff Exemption Amidst Global Market Turmoil

Despite being excluded from new US tariffs, Mexico's peso experienced a significant devaluation this week (1.32% on Monday alone, 3.88% since Thursday), due to global market reactions to the US-China trade war and investors' flight to safer assets.

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How does Mexico's exemption from US tariffs affect its current economic challenges?

The peso's decline is linked to China's response to US tariffs, creating systemic risk globally. Investors are moving towards safer assets like gold and US Treasury bonds, impacting emerging market currencies. Mexico's initial positive reaction to its tariff exemption was short-lived due to the larger global economic uncertainty.", "While Mexico avoided direct tariff impacts, its peso is suffering due to its status as an emerging market investment asset. The global uncertainty created by the US-China trade dispute is directly impacting investment flows into Mexico.", "Mexico's economic integration with the global economy makes it vulnerable to global downturns. The country's potential to benefit from nearshoring is contingent upon tariff stability and the successful renegotiation of the USMCA.

bbc.com

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Jan 23, 16:13

Argentina's Peso Strengthens, but Prices Soar in US Dollars

Argentina's peso appreciation, driven by President Milei's anti-inflation measures, has unexpectedly increased prices of goods in US dollars, impacting purchasing power and competitiveness, while the government maintains that the peso is not overvalued.

Argentina's Peso Strengthens, but Prices Soar in US Dollars

Argentina's peso appreciation, driven by President Milei's anti-inflation measures, has unexpectedly increased prices of goods in US dollars, impacting purchasing power and competitiveness, while the government maintains that the peso is not overvalued.

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What are the short-term economic consequences of the peso's appreciation, considering the impact on tourism, industrial production, and employment?

This unexpected price increase, despite a 40% real peso revaluation (BIS estimates), stems from President Milei's anti-inflation strategy. By anchoring the official exchange rate and drastically cutting public spending, inflation dropped from 211% to 118%, but this led to dollar inflation exceeding 70%.

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