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Argentina to Expand De-Dollarization Efforts; Seeks Extension of Yuan Based Swap Line With China
[May 27, 2023 4:30 AM] The government of Argentina is reportedly seeking to expand its de-dollarization agreement with China due to the lack of dollars that the country is facing. According to reports, Economy Minister Sergio Massa would be in talks to expand the current…
Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina’s Stress on the Dollar Issue
[May 5, 2023 1:30 AM] Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is…
Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals
[May 4, 2023 11:30 PM] Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid…
Argentina to Settle Chinese Imports in Yuan to Safeguard Dwindling Dollar Reserves
[Apr 29, 2023 12:00 AM] The economy minister of Argentina, Sergio Massa, announced that starting this month, payments for imports coming from China will be settled using the Chinese yuan. The agreement, which will allow the country to safeguard its dwindling dollar…
Argentina Registers 6.6% CPI in February; Inflation Numbers Blast Past 100% YoY for First Time Since the 90s
[Mar 16, 2023 9:30 PM] The National Institute of Statistics and Census of Argentina released February’s numbers for the consumer price index (CPI), registering an increase of 6.6%, a consequence of the rises in prices of food and beverages principally. The number…
Like Venezuela, Some Retailers in Argentina Are Now Pricing Items in Dollars
[Mar 8, 2023 6:30 AM] Some retailers in Argentina are already pricing imported items in U.S. dollars, according to reports from local news outlets. The idea behind this would be to keep prices stable and avoid repricing articles each day, a practice that has already…
Opinion: Have Brazil’s Lula and Argentina’s Fernandez heard of cryptocurrency?
[Jan 31, 2023 12:09 PM] Brazil’s Luiz Inácio Lula da Silva and Argentina’s Alberto Fernández want to create a “common currency.” It sounds suspiciously like a state-controlled cryptocurrency.
Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries
[Jan 25, 2023 6:30 AM] President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border…
Argentine Peso Breaks Historic Low Mark as Argentines Hedge Savings in Dollars
[Dec 29, 2022 7:30 AM] The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U.S. dollar reached a value of 356 pesos on…
Argentine Peso Plunges to a 5 Month Low Amid Legal and Political Woes
[Dec 26, 2022 2:30 AM] The Argentine Peso has experienced a sudden fall vs the U.S. dollar, falling to a 5-month low in its blue rate, one of the many parallel exchange rates of the country. The reasons for this fall, besides the abundance of pesos due to holiday-related…