Dollar Reined in After First Currency Control Free Week in Argentina
News Bytes
Bitcoin.com
Dollar Reined in After First Currency Control Free Week in Argentina
The price of the U.S. dollar weakened during the first week after lifting the currency controls in Argentina, with the peso gaining ground and stabilizing at an exchange rate of 1,160 pesos per dollar.
The rate, which is closer to the stronger side of the established fluctuation band, has spurred speculation about a possible intervention of the central bank to purchase dollars to maintain a weaker peso. Nonetheless, President Javier Milei stated that the bank will not act until the exchange rate falls under the 1,000 pesos per dollar mark.
This is seen as a victory for Milei’s administration, as critics claimed that this move equated to a covert devaluation of the peso.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings