Wednesday, June 13, 2012

The Sinking Argentine Peso

US Dollars

1 Peso Argentino
As I pointed out in my blogpost about YPF, the inflation of the Argentine Peso is pretty high. It is becoming a burden for the population as well as for the Argentina government. It is almost impossible for ordinary citizens to legally buy dollars. Citizens have to jump through many bureaucratic hoops to purchase US dollars. The official exchange rate is 4.70 Peso. The black market exchange rate is 5.71 Peso and getting higher.