JUNE 2013 USD / ARS Average Monthly historical exchange rate 5.5 ARS 5.0 ARS 4.5 ARS 4.0 ARS 3.5 ARS 3.0 ARS 2.5 ARS Jan 2004 Jan 2006 Jan 2008 Jan 2010 Jan 2012 EUR / ARS Average Monthly historical exchange rate
7.0 ARS 6.5 ARS 6.0 ARS 5.5 ARS 5.0 ARS
a hard currency such as US dollars. However, it also increases the costs of imports and therefore infl ation. The exchange rates I have
mentioned are the “offi cial” exchange rates. From my reading about Argentina, there is also an unoffi cial exchange rate. For the US dollar this sits closer to 10. Diffi cult for us to understand here in the UK, given the lack of exchange control and the high liquidity of our currency markets, although the situation in Cyprus probably gives a taster of what it could be like – as a Cypriot euro is quite clearly diff erent in value from that of Germany’s.
So it would seem fair to say that there is little likelihood of the Argentinean peso appreciating or even stopping its continued weakening anytime soon, given that there doesn’t seem to be any political willpower to change how it operates. You never know, it could be a blueprint for some Western countries as we enter the 21st Century as the richest trading block in the world!
4.5 ARS
4.0 ARS 3.5 ARS
3.0 ARS Jan 2004 Jan 2006 Jan 2008 Jan 2010 Jan 2012 GBP / ARS Average Monthly historical exchange rate 8.0 ARS 7.5 ARS 7.0 ARS 6.5 ARS 6.0 ARS 5.5 ARS 5.0 ARS 4.5 ARS Jan 2004 Jan 2006 Jan 2008 Jan 2010 Jan 2012
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