U$D vs Pesos hit 4.3 to 1 yesterday!

[gouchobob]

http://mx.reuters.com/article/topNews/idMXN1327515420110513

En el mercado informal, donde no interviene el Banco Central, el peso presentó una ligera caída del 0,06 por ciento a 4,2875 por dólar ARSB=.

Good point the peso should fall if the dollar gains strength, but you have to remember the government likes to intervene and manipulate the value of the peso. They can do this short-term but I doubt they could stop a big drop over an extended period.

 

[Napoleon]

http://mx.reuters.com/article/topNews/idMXN1327515420110513

En el mercado informal, donde no interviene el Banco Central, el peso presentó una ligera caída del 0,06 por ciento a 4,2875 por dólar ARSB=.

How does one go about getting AR$4.2875 for his/her US dollars?

Thanks

 

[dennisr]

Good point the peso should fall if the dollar gains strength, but you have to remember the government likes to intervene and manipulate the value of the peso. They can do this short-term but I doubt they could stop a big drop over an extended period.

Agree.
Trying to micro mange the peso in this volatile currency market is insane and complicated. Think this is still valid:http://en.mercopress.com/2010/04/12/argentine-central-bank-props-the-peso-with-euro-operations
"Argentina has been forced to buy Euros in the local market to control the exchange rate of the US dollar relative to the Peso in a complicated move but necessary to avoid the risk of having additional Central Bank funds seized in New York."