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Dollar: closing price today October 7 in Argentina

The American dollar paid at closing 149.18 interbank Argentine pesos so that it implied a change of 0.4% with respect to the 148.58 interbank Argentine pesos on average of the previous day.

Taking into account the last seven days, the American dollar recorded a rise in 1.27% and for a year has still maintained an increase in 43.57%. Regarding previous days, it turned the tables with respect to the previous day, in which a decrease of 0.22% was noted, without managing to set a stable trend in recent days. The volatility figure was lower than that accumulated in the last year, so in this last phase there are fewer changes than expected.

Problems for 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 the “convertible peso”, due to its resemblance to the dollar, which was later “broken” in 2002 due to a bill.

In the last two decades, the Argentine peso has been severely affected and has undergone 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 rise 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 coronavirus 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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