May 25, 2013
Betnaza blasts 'the handling of the exchange rate'
The vice-president of the Argentine Industrial Union (UIA) and director of Techint, Luis Betnaza, blasted the Government's "handling" of the exchange rate policies and considered that they only generate "speculations."
The businessman assured during a radio interview that the restrictions to buy foreign currency "are measures to correct the currencies in Argentina, and everything related to the roughly handled exchange rate, ends in speculation."
Betnaza stated that "Argentina has a large experience in dollarization, the heads of several consumers and businessmen are linked to the dollar, today is the 'blue' dollar they have access to."
"The 'blue' market is a relatively small market against the volume of the economy in general, all these restrictions are going to have an impact, because the speculation leads the people to turn to the 'blue' due to their lack of capacity to save," he continued.
Betnaza also warned that in spite of the increasing informal dollar, "there is still no impact" in the imports due to the type of exchange rate used.