Argentine peso is devalued after Milei’s victory in the primaries
With the victory of Javier Milei in the primary elections in Argentina, the peso devalued 22% this Monday
This Monday, the Argentine peso devalued 22 % after the impact on the country due to the victory in the primary elections of the far-right Javier Milei.
For some analysts, the fall in the local currency is not a surprise, taking into account that the winning candidate “proposes to dollarize the economy, eliminate the Central Bank and cut public spending.”
The Central Bank issued the official exchange rate in the first operations, which “listed at 350.05 pesos for sale at the beginning of this day, according to market operators, after having closed at 287.35 pesos last Friday.”
The fall of the peso occurs in the midst of negotiations with the International Monetary Fund and the South American nation, where the organization has requested adjustments in the exchange policy.
In this sense, the BCA raised the monetary policy rate this Monday by “21 percentage points, so that the annual nominal interest rate of the 28-day Liquidity Letters (Leliq) went to 118 % (or 209 % in effective annual terms).
M.Pino
Source: finanzasdigital
(Reference image source: @La_Resistencia1, through X social network)
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