Businessmen do not expect severe changes in dollar exchange

By Liliana Franco and Pablo Jiménez, from Mar del Plata City.

There is no doubt that an issue repeated colloquium after colloquium that is one of the main worries of the businessmen is how the government was going to maintain the foreign exchange market. It seems like this year it is an exception because everyone believes that there is not going to be a variation in the official foreign exchange policies.

The traditional survey of the Idea Colloquium to businessmen clearly reflects that the exchange market is not first in the economic agenda facing 2012. Although it was a year in which the elections and the global crisis triggered the pressure on the dollar, the businessmen say it is clear that the government will maintain the same receipe with a Central Bank involved in the foreign exchange market to avoid a overwhelming increase of the dollar.

“I believe that the government will continue with the measure it has been applying and that it will lead to positive results, which is adjust the exchange market below the inflation,” the president of Cardón, Gabriel Nazar, said.

Meanwhile, Oscar Andreani stated that does not see any sudden change in the foreign exchange market and assured that “the dollar will remain in no more than 10 percent this year.”

On the other hand, the head of the Argentine Industrial Union, José Ignacio De Mendiguren, affirmed that “next year’s dollar has a direct relation with our improvement on the competitive of the economy.”

Regarding the intention of some sectors to devaluate the currency based in the movement of the real and to slowdown the effect of the wage increase, De Mendiguren indicated that “the devaluation petitions don’t appear from one day to another, they are a consequence of a revaluation period. Then, if we want to avoid the so called run run, we have to avoid the long periods of exchange delay.”