That American dollar quoted earlier in the day 144.75 Argentine interbank pesos on averagemarking a change of 0.09% from the previous day’s data, when it closed at 144.62 Argentine interbank pesos.
Considering last week, the American dollar marks an ascent 0.86%so that in the last year there is still an increase of cumulative 41.61%. In relation to previous data, three consecutive sessions with positive values are added. Regarding the volatility of the last data, it shows a behavior that is significantly higher than the volatility shown by the numbers of the last year, so it is going through a period of instability.
The Argentine peso in trouble
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.
In recent years, the Argentine peso has been badly hit 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 Maurizio 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 traded at 110 pesos per dollar, its highest rise 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 COVID pandemic – continued to have an impact, 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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