Dollar: open today, September 19, in Argentina

After opening the American dollar traded today at 143.51 Argentine interbank pesos which implied an imperceptible fluctuation compared to the 143.51 Argentine interbank pesos average of the previous day.

Considering last week, the American dollar marks an increase of 0.64%so that it still maintains an increase of in the last year 40.45%. If we compare the number with previous data, it concatenates two sessions in a row. The volatility number shows a significantly lower balance than the volatility shown in the numbers for the last year, suggesting that we can say that it has been going through a period of greater stability lately.

Problems for the Argentine Peso

That Argentine peso It has been the country’s legal tender since 1992, after replacing the Austral. Also known as the “convertible peso” due to its parity with the dollar, which was later “broken” due to a bill in 2002.

Over the past two decades, the Argentine peso has been badly depressed and has undergone a series of devaluations: during the administration of Nestor Kirchner it depreciated 9% as it rose from 2.87 to 3.13 pesos per dollar; a second episode came in the administration of Cristina Fernandez de Kirchneras the currency depreciated by 211%, falling from 3.13 to 9.74 pesos per dollar.

Later, on December 17, 2015, a week after arriving at the presidency of Maurice MacriThe Argentine peso showed a 42% devaluation, rising from 9.83 to 13.95 pesos per dollar.

Currently, in the administration of Alberto Fernández, the Argentine peso has posted an exchange rate of 110 pesos per dollar, its highest level before the announcement of the debt deal with the International Monetary Fund (IMF).

The Argentine currency lost 18.09% in 2021, rising 50.9 percent.

In addition to the economic crisis in Argentina that has been going on for years the corona pandemic has further effects, reaching up to 36.1% in 2020; 50.9% in 2021; while for this year 2022 an inflation rate of 33% is expected.

The economy of Argentina, the third largest economic power in Latin America, could slow down and will grow 3% this year, according to the IMF, after posting a 10% increase in 2021.

The coins drew on various characters when they appeared, but perhaps the most important commemoration was the anniversary of the recapture of the Malvinas Islands.

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