UIA considers 'logical' having a 6-peso exchange rate

Argentine Industrial Union Vice PresidentJuan Carlos Sacco considered today reaching a dollar exchange rate’s selling price of 6 pesos by the end of the year, as the Domestic Trade Secretary Guillermo Moreno forecasted, “is totally logical.”

“Moreno is already talking of a new exchange rate around 6 pesos per dollar, and we think it’s the most logical in terms of promoting competitiveness”, Sacco remarked during a radio interview.

Likewise, the business lobbyist referred to the collective bargaining talks and the income tax.

“I heard the President Cristina Fernández telling the head of the so called “official CGT” [in league with the national government] that in March the floors for the income tax would be adjusted as well a salary hike for all workers.”