This decrease is primarily explained by (i) lower commodity prices for corn, soybean, wheat, rice and milk; (ii) higher production costs in our Argentine operations due to the appreciation of the Argentine peso
in real terms; and (iii) a $4.
Witness the Mexican Peso crisis of 1994, the Asian financial crisis in 1997 and the collapse of the Argentine Peso
Boudou is accused of using shell companies and secret middlemen to gain control of a company that was given contracts to print the Argentine peso
, as well as material for Fernandez's election campaign.
The risk-averse shift in investments led to a sharp depreciation in emerging-market currencies such as the Argentine peso
, which depreciated 54 per cent since May 1, 2013; the Turkish lira, down 24 per cent; and the South African rand, 19 per cent lower.
Earlier in the day, Japanese Finance Minister Taro Aso said the government will closely monitor how turmoil in emerging market currencies, such as Argentine Peso
, Turkish lira, South African rand will affect the global economy, as the recent plunge in those currencies have caused the yen appreciation and stock declining trend in Tokyo.
A high inflation rate within the country and the exchange rate of the Argentine Peso
has also made it cheaper for Argentina's residents to holiday abroad.
There is an intrinsic relationship between GDP growth and vehicles and coatings sales and, due to high inflation rates and Argentine Peso
devaluation, Argentina's middle and high classes are buying cars to maintain their purchasing power.
Basically, it started with a fight against inflation and the fall in value of the Argentine peso
in the 1990s.
Plus, the Argentine peso
is hovering at favorable exchange rates, which keeps the sector competitive.
Cultivation of soy crops in rural Argentina has exploded thanks to a weak Argentine peso
, a bad growing season in the US, and strong demand from China.
The Argentine peso
, which until last year was worth exactly one U.
The Argentine peso
has been staggeringly devalued, losing more than 60 percent of its worth over the last 17 months.