Exchange Rate in Argentina
Argentina - Exchange Rate (average of period)
Argentine peso gains ground in June
The Argentine peso strengthened in the last few weeks, thanks to positive domestic news and USD weakness. On 5 July, the currency traded at 41.84 ARS per USD, which represented a 7.4% appreciation over the same day of the previous month. Nevertheless, the peso lost broadly a third of its value compared to the same day last year and was 10.4% lower than at the beginning of the year.
The currency’s recent appreciation reflects both internal and external factors. On the internal front, the peso jumped on the government’s announcement in the second half of June that a primary fiscal surplus of 0.2% of GDP in the January-May period had been achieved. This was because this keeps the country on track to meet the fiscal goals outlined in the IMF standby agreement. Moreover, President Macri’s choice of Miguel Pichetto, a moderate Peronist, as his vice-president candidate for re-election in October was celebrated by markets, offering further support to the peso, as analysts consider the move could increase Macri’s chances to win. On the external front, easing tensions between the U.S. and China following the G20 Osaka meeting propped up the peso, while rising expectations of a near-term interest rate cut by the Fed put some downward pressure on the USD.
Looking ahead, the peso is expected to depreciate further due to still-high inflation, policy uncertainty and fragile investor confidence, although the scope of its weakening should narrow compared to last year thanks to the Bank’s tight monetary policy stance.
Panelists surveyed for this month’s LatinFocus report see the ARS ending at 50.61 per USD and 61.36 per USD in 2019 and 2020, respectively.
Argentina - Exchange Rate (aop) Data
|Exchange Rate (vs USD, aop)||5.48||8.12||9.27||14.77||16.56|
5 years of economic forecasts for more than 30 economic indicators.
Argentina Exchange Rate (aop) Chart
Source: Thomson Reuters.
|Bond Yield||6.69||0.15 %||Dec 17|
|Exchange Rate||43.88||0.45 %||Jul 31|
|Stock Market||42,058||2.26 %||Jul 31|
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August 23, 2019
The Universidad Torcuato di Tella (UTDT) consumer confidence index fell to 41.9 points in August from 44.2 points in July, which had marked the best result since January 2018.
August 22, 2019
The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) recorded flat growth year-on-year in June, after logging a 2.4% increase in May, which had marked the best result in over a year and exceeded market expectations.
August 21, 2019
Exports jumped 8.3% in year-on-year terms in July, following June’s 1.9% increase.
August 15, 2019
National consumer prices rose 2.2% over the previous month in July, coming in below June’s 2.7% month-on-month increase and marking the lowest reading in 14 months, according to the National Statistical Institute (INDEC).
Argentina: Consumer confidence jumps to 18-month high in July, but remains entrenched in pessimistic terrain
July 26, 2019
The Universidad Torcuato di Tella (UTDT) consumer confidence index surged to 44.2 points in July from 40.6 points in June, marking the best result since January 2018.