Senator Fernández: 'We'd rather restrict foreign currency exchange, than devaluate'

Victory Front's Senator Aníbal Fernández admitted that the Government had to decide whether to "restrict" the purchase of foreign currency or "facing a social issue over a devaluation."

"We'd rather restrict the purchase of dollars than having a social problem over a devaluation," the official assured after admitting that the US currency is being artificially sustained.

The Central Bank allowed mini-devaluations leading the official dollar trade to AR$4.79, which registered an 11 percent drop in 2012, against the 7.7 percent in 2011, but with an annual inflation that exceeds the 20 percent.

Fernández highlighted that "we need to keep the currency exchange rate to grant that we can maintain the demand."

According to the Senator "this is a political decision, and those who don't agree, we have (legislative) elections on October 27, next year."