Uncaring Markets See US Dollar Fall Against Peso Uruguayo And Brazil's Real While Peso Argentino Will Not Stop Shitting The Bed

Today saw the US Dollar fall against both the Peso Uruguayo and Brazil's Real with the dollar dropping more than one percent with respect to Uruguay's wholesale interbank rate compared to Friday (archived). Since Argentina's new criminal government was installed this very month and went on to pass an "Emergencia Económica" law, uncaring markets have taken the Peso Argentino down to 76.75 for a single dollar at the market determined "blue dollar" rate.

The Argentine goverment is claiming to sell dollars at both a "wholesale" rate of 60 pesos to the dollar which they don't while they have started actually selling dollars at a "solidarity" rate 30% higher than their entirely hallucinated "wholesale" rate. This Argentine reinvention of the "convertible ruble" was initially proposed with the "tourist dollar" label and comes as Argentina once again is selectively defaulting on its debts.

One thought on “Uncaring Markets See US Dollar Fall Against Peso Uruguayo And Brazil's Real While Peso Argentino Will Not Stop Shitting The Bed

  1. In escalating Argentine lulz, a number of online payment gateways seem to be offering an exchange rate above 100 Pesos Argentinos to the USD in what the derps are calling "El dólar gamer" (yes this includes putting the IVA on top of the "convertible ruble" tax).

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