Exchange Rate in Argentina
Argentina - Exchange Rate (average of period)
Argentine peso tumbles to new all-time low in June
The Argentine peso continues to depreciate, despite Central Bank efforts to stem the currency’s slide. On 29 June, the currency traded at a record-low 28.94 ARS per USD. The result represented a steep 16.5% weakening over the same day of the previous month. The peso was 58.9% weaker compared to the same day last year and 55.6% lower than at the beginning of the year.
The currency’s most recent slide reflects growing concern among investors on Argentina’s ability to implement IMF-mandated reforms amid a challenging economic scenario at home. Uncertainty persists despite a series of measures implemented by the government and the Central Bank to shore up the battered currency. On 18 June, the Central Bank increased the minimum reserve requirement by 5 percentage points to absorb excess peso liquidity in the market. The measure aims at taking in ARS 100 billion from the financial system to ease pressure on the U.S. dollar. Limits on foreign currency deposits held by private banks were reduced from 10% to 5%, allowing banks and private entities to carry out spot foreign exchange purchases. Following the announcement of these measures, the peso stabilized around the 27.40 ARS per USD threshold but started to depreciate again starting on 28 June, likely reflecting in part the release of disappointing industrial production data from the second quarter.
Looking ahead, the peso is expected to depreciate further due to widespread uncertainty over the economy’s health.
Panelists surveyed for this month’s LatinFocus report expect the ARS to end 2018 at 29.62 ARS per USD. They project the Argentine peso will trade at 30.20 ARS per USD at the end of 2019.
Argentina - Exchange Rate (aop) Data
|Exchange Rate (vs USD, aop)||32.63||29.83||52.85||22.60||17.30|
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||27.25||0.45 %||Jul 13|
|Stock Market||26,514||2.26 %||Jul 13|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 2, 2018
In May, industrial production contracted 1.2% over the same month last year, according to data released by the National Statistical Institute (INDEC) on 29 June.
June 29, 2018
The Argentine peso continues to depreciate, despite Central Bank efforts to stem the currency’s slide.
June 27, 2018
At its latest meeting held on 26 June, the Central Bank of Argentina (Banco Central de la República Argentina, BCRA) decided to leave the 7-day repo reference rate unchanged at an all-time high of 40.00%.
June 27, 2018
Exports fell 6.0% in year-on-year terms in May, contrasting April’s revised 6.5% year-on-year increase (previously reported: +6.2% year-on-year).
June 26, 2018
The monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) contracted 0.9% in annual terms in April, contrasting the upwardly revised 2.0% expansion registered in March (previously reported: +1.4% year-on-year).