Argentine Peso

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Argentine Peso

The currency of Argentina. It was introduced in 1992, replacing the austral following a bout of hyperinflation. At introduction, it was pegged to the U.S. dollar at a one-to-one ratio, meaning that if one presented one peso to the Central Bank of the Republic of Argentina, it could be redeemed for one dollar. This peg was dropped during the Argentine economic crisis of 2001, but the Central Bank attempts to keep the value of the peso around three dollars to promote stability. It is also called the peso convertible.

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Earlier this week, the Argentinian peso plunged 20 percent.

Choppy

AISC between $935/oz and $995/oz, assuming average exchange rates against the US Dollar of ZAR 14.00 (South African Rand), BRL 3.65(Brazilian Real), AUD 0.75 (Australian Dollar) and AP 40.00 (Argentinian Peso), with the Brent crude oil price at $74/bl average for the year; and

Anglogold Ashanti (JSE: ANG) - AngloGold Ashanti Posts Strong Q2 2019 Operating Recovery; Key Projects on Track--8/8/2019

The currency effect was negative -1.2 points mainly linked to the devaluation of the Argentinian peso and the Turkish lira.

Renault - Financial Results For the 1st Half of 2019 -- 6/8/2019

For Oxford Economics, 'despite significant adjustments since last year, the Argentinian peso and Turkish lira are still the two currencies most vulnerable to a renewed downturn in market sentiment.'

Oxford Economics: Philippine peso resilient from currency crisis

For example, the Turkish lira and Argentinian peso have collapsed 41 percent and 91 percent, respectively, in 2018.

Risk resurfaces under tighter financial conditions

the third quarter 2017, including: a negative currency impact (-5.2%) driven mainly by the appreciation of the euro against the Argentinian peso,Turkish lira and Brazilian real, which all depreciated by more than 20% in the quarter against last year; changes in scope of consolidation (-0.5%), resulting entirely from the disposal of Stonyfield in August 2017.

Danone reports Q3 sales EUR6.19B vs. EUR6.47B last year

Hussein Sayed, chief market strategist at FXTM, said traders are waiting to see whether Emerging Market (EM) currencies -- namely the Turkish lira, Argentinian peso, Indian rupee, and Russian ruble -- will stabilise or not.

Emerging market contagion woes in focus

As the Argentinian peso is down more than 50% so far this year, the currency crisis is driving the country deeper into a recession.

Argentina reflects EM woes, but needs to fix its deficit

Meanwhile, another research note issued by London-based Capital Economics said that the Argentinian peso and Turkish lira came under fire this month, prompting policymakers in both countries to aggressively hike interest rates.

Inflows to emerging markets concentrate on certain countries, including Egypt: IIF

He had pegged the Argentinian peso at one-one to the American dollar.

Exchange rate and the Pakistani economy

The Argentinian central bank was forced to raise interest rates dramatically (up 17 percentage points since May 2013) as FX reserves evaporated, forcing a devaluation of the Argentinian Peso in January 2014.

QNB: Calm in emerging markets but underlying vulnerabilities remain

The ungluing became serious when the Argentinian peso crashed over 15% against the dollar in one session.

Tale of the tumbling rand: the South African rand is yet again in the wars. Like a handful of other emerging markets, the US's 'tapering' bailout of its economy has sucked value from their currencies, leading to fairly spectacular falls. In response, the South African Reserve Bank has raised its base lending rate but this has led to confusion in the market. Tom Nevin has the details