The American dollar paid at the beginning of the session 180.97 interbank Argentine pesos so that it represented a change of 0.17% compared to the 180.66 interbank Argentine pesos on average of the previous day.
Regarding the last week, the American dollar records a rise in 0.97%so that in the last year it still maintains a rise in 56%.
Compared to previous days, it accumulates four successive sessions in positive values. The volatility referring to the last week is manifestly lower than that accumulated in the last year, which shows that we can say that it is going through a period of greater stability lately.
Diagnosis of the Argentine peso
The Argentine peso
It is the legal tender in the country since 1992, this after it replaced the austral. Also known as “convertible peso”, due to its equivalence with the dollar that was later “broken” in 2002 due to a bill.
In recent years, the Argentine peso has been severely affected and has had a series of devaluations: during the mandate of Nestor Kirchner it was devalued by 9%, going from 2.87 to 3.13 pesos per dollar; a second episode came in the administration of Cristina Fernandez de Kirchnerwhen the currency lost its value by 211% and went from 3.13 to 9.74 pesos per dollar.
Later, on December 17, 2015, one week after he became president of Mauricio Macrithe Argentine peso showed a 42% devaluation and went from 9.83 to 13.95 pesos per dollar.
The economy of Argentina, the third economic power in Latin America, is going through a critical moment for this election year; a scenario that remains uncertain.
During 2022 the fiscal deficit was high and the monetary issue to finance it contributed to accelerating the inflation rate, which reached even above 99%showing macroeconomic imbalances that limit the sustainability of economic growth.
At the beginning of 2022 the Argentine government reached an agreement with the International Monetary Fund by a new Extended Facilities Program, which allows the country to postpone its maturities with the agency and strengthen its short-term reserves. Among the commitments assumed is the goal of consolidating its control, reaching a balance by the year 2025.
After a turbulent year, with strong exchange rate tension and where there were three economy ministers, the current government faces various challenges such as the jump to dollars, the increase in the economic gap, the upcoming presidential electionsdebt maturities and more.
According to the Economic Commission for Latin America and the Caribbean (Cepal), by 2023 the Gross Domestic Product (GDP) of the country would barely manage to grow one percent.
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