Moreno expects 6-peso dollar trade rate

Domestic Trade Secretary Guillermo Moreno considered that during 2013 the peso could experience a 18-20 percent depreciation, thus ending the year around 6 pesos per US dollar.

In 2012 the peso reduced its value by 12.5 percent in what seems to be a silent by steadily way to a depreciation planned by the national government.

“It’s not crazy to think about currency depreciation between 18 and 20 percent, thus ending 2013 with a dollar trade rate around 6 pesos”, Moreno told Página 12 newspaper in Hanoi, Vietnam during the 11-day Asian tour of President Cristina Fernández de Kirchner in which the official took part.

Moreno’s statement was also heard by dozens of Argentine entrepreneurs that were also part of the diplomatic mission intended to tighten commercial relations.