Buenos Aires Times

economy Seventh consecutive rise

Dollar hits new record of AR$18.34 pesos

In the first 11 months of 2017, the peso shed eight percent of its value against an accumulated rate of inflation of 19.4 percent.

Friday 22 December, 2017
The dollar surpassed the 19-peso mark in late December on news the government was downgrading its inflation target for 2018 from 10 to 15 percent.
The dollar surpassed the 19-peso mark in late December on news the government was downgrading its inflation target for 2018 from 10 to 15 percent. Foto:Cedoc-Perfil

More Economy News

Currency exchange houses in Buenos Aires were today selling US dollars at a rate of AR$18.34 pesos, an increase of 11 cents that marked the seventh consecutive decline in the value of the Argentine peso.

End-of-year demand for the dollar among banks, companies and investors is not unusual.

Banks and foreign traders were selling dollars at AR$18.09. On the black market, buyers could expect to pay AR$18.38.

At the beginning of December, the dollar had dropped to AR$17.50, its lowest level in three months, on the back of complaints from industry about a loss of competitiveness.

In the first 11 months of the year, the peso shed eight percent of its value against an accumulated rate of inflation of 19.4 percent.

-TIMES/PERFIL

Poll

Op-Ed

Top Stories

  1. 1Argentine tennis player Nicolás Kicker guilty of match fixingArgentine tennis player Nicolás Kicker guilty of match fixing
  2. 2Trump cancels summit, citing 'open hostility' by North Korea
  3. 3Grandmothers of Plaza de Mayo receive Nobel Peace prize nomination
  4. 4Petrobras shares plunge 10% after it bends and offers fuel price cut
  5. 5Ni Una Menos releases alarming statistics, reports 13 femicides in first 15 days of 2018
  6. 6IMF predicts brighter Brazil economy in 2018-2019
  7. 7Preaching democracy is out of fashion
  8. 8Development in City prompts debate over gentrification, cultural heritage
  9. 9‘What we are witnessing with North Korea is a slow-motion trainwreck’
  10. 10New Argentine ambassador to US submits credentials to Trump