Cabinet Chief rules out boost in dollar exchange rate

Cabinet Chief Aníbal Fernández ruled out a possible boost in the dollar exchange rate and guaranteed that the Government will maintain an “administered flotation” of the exchange rate after the October 23rd. presidential elections.

According to Fernández, what’s happening now is a “textbook example.”

“Every time there’s an election, there are people who like to stir the pot and try to take advantage by making the retail sector believe that there might be a boost in the exchange rate, which could make matters complicated and force the Government to increase currency value,” he explained.

“That’s not going to happen in Argentina,” Fernández assured. The minister highlighted the need to maintain an “administered flotation like we’ve never seen, in order to guarantee our producers in all sectors of the Argentine economy they have a competitive exchange rate,” he concluded.