U.S. Dollar Reaches New Highs in Argentina amidst uncertainty

Posted on August 14, 2014 • Filed under: Argentina, Business, Economy

Argentina: US dollar reaches a new record of 13.15 Pesos in Buenos Aires ‘blue’ market

mercopress.com reported the US dollars climbed to a record 13.15 Pesos on the black or ‘blue’ market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos. Tough capital controls on foreign exchange and lack of trust in government policies has traditionally meant that most Argentines buy dollars as a refuge. The 13.15 Pesos rate is the highest since last 23 January. Read Article

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