December 10, 2013
In augustSaturday, August 31, 2013
The peso hits record devaluation
The official dollar closed yesterday in banks and exchange offices at 5.68 pesos, making August so far this year the month with the highest devaluation of the peso. The Argentine currency weakened three percent this month (16 cents and a half) and 15.3 percent so far this year.
The dollar hike was driven mainly by the drop the Brazilian real has been experimenting, with its peak in August 21 when it reached a value of 2.45. Brazil’s Central Bank decided to implement several policies to decrease the raise but the effect over the Argentine peso was felt throughout the month.
The black market dollar yesterday closed at 9.30, dropping 15 cents in its value compared to the previous day with a low volume of purchases after raids were carried out by the federal government on foreign exchange houses.
— Herald with Télam, DyN