Argentina telling Argentines not to purchase dollars

Posted on October 29, 2011 • Filed under: Argentina, Business, Economy

The Central Bank took several measures to prevent the Argentines continue with the acquisition of the U.S. currency.The national government had yesterday to market $ 140 million to prevent the U.S. currency rises. The draft budget presented by the Executive in the House of Representatives next year estimated that the dollar exchange rate for 2012 will not exceed the barrier of 4.40 pesos.
This figure, as the official inflation estimate (9.4%) or growth (above 5%) are unrealistic numbers serve the Government to have discretionary funds.
For this reason, President Cristina Fernandez know in particular that any reason to carry the Argentine demand more U.S. currency is dangerous. Read Article

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