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April 17, 2014
Thursday, January 23, 2014

Capitanich: ‘What happened wasn’t a devaluation induced by the Government’

Cabinet Chief Jorge Capitanich has also announced new commercial agreements with the People''s Republic of China and India. (TÉLAM)

Cabinet Chief, Jorge Capitanich explained during his daily conference from the Government House that yesterday’s hike of 23 cents in the official peso “was not a devaluation induced by the Government. It was an expression of free market with offer and demand.”

In addition, he refused to unveil what measures the government will take in order to prevent the parallel dollar growing trend.

“We won’t express (the steps) explicitly because by doing that, it will take away the surprise effect,” stated Capitanich anticipating that further actions are under consideration.

Yesterday, the official peso hit a 12 year record reaching 7.14 pesos for sellers, while in the parallel market, the so called “dollar blue” closed at 12.15.

 

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Tags:  Argentina  Economy  Peso  Capitanich  


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