Dollar: closing price today October 27 in Argentina

The American dollar was traded at closing 155.69 interbank Argentine pesos on averageso that it represented a change of 0.39% when compared to the figure of the previous session of 155.08 interbank Argentine pesos.

In reference to the profitability of the last seven days, the American dollar marks a rise in 1.24%so in year-on-year terms it still maintains a rise of 47.04%. In relation to previous dates, he chained four sessions in a row in green. The volatility of the last seven days is noticeably lower than the data obtained for the last year (4.46%), so we can say that it is going through a period of greater stability recently.

The Argentine peso in trouble

The Argentine peso It is the legal tender in the country since 1992, this after it replaced the austral. Also known as the “convertible peso”, due to its resemblance to the dollar, which 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 9% when it went 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, a week after the arrival to the presidency of Mauricio Macrithe Argentine peso showed a 42% devaluation and went from 9.83 to 13.95 pesos per dollar.

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

The Argentine currency lost 18.09% in 2021 in relation to a price increase of 50.9 percent.

In addition to the economic crisis that Argentina has dragged on for years, the SARS-CoV-2 pandemic has further impacted, reaching up to 36.1% in 2020; 50.9% in 2021; while it is expected that there will be an inflation rate of 33% for this 2022.

The economy of Argentina, the third economic power in Latin America, could slow down and grow 3% this year according to the IMF, after having had an advance of 10% in 2021.

On their appearance, the coins have resorted to showing various characters, but perhaps the most important commemoration was the anniversary of the recovery of the Malvinas Islands.

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