Argentina's Peso Is Collapsing Again

Just a few short days after agreeing a record bailout by The IMF, Argentina's currency is back in freefall, collapsing to more than 26 pesos per dollar as Argentine truckers plan a national strike on Thursday that investors fear will push the government to fold on reforms... and growing anxiety over BRCA's decision.

Companies rejected demand for 27% wage increases from truck drivers, Hugo Moyano, leader of the nation’s truckers union, says in press conference, confirming plans for a nationwide strike on Thursday.

Additionally, it appears BCRA’s decision to withdraw its USD5b daily offer shook the FX market. The central bank was absent from the market on Friday and the peso had its biggest drop in two weeks. BCRA decides monetary policy tomorrow, in first meeting after government and International Monetary Fund agreement.

This is the biggest drop in the peso in over a month...


Not good... Record lows for the peso, and falling...

It looks like we're gonna need more than $50 billion!!

Brazil's Real is rolling over too as the peso plummets...


vato poco Coinista Mon, 06/11/2018 - 17:32 Permalink

this is, what, the 6th? 7th? 8th? time in the last 125 years Argentina's currencies & bonds have gone to 'worth less than toilet paper' status, right? y'know, it just *could* be they're doing something wrong. 

let's hope they get some good rock-solid advice from a central banks and US/London investment houses when they do their next reset./sarc

or they could pull their heads outta their asses and do something that might actually WORK, instead

In reply to by Coinista

Exponere Mendaces Cryptopithicus Homme Mon, 06/11/2018 - 17:16 Permalink

Its composed of freaks and losers that don't understand Roger Ver's lies.

The kid that stole the APC and went on a joy-ride in Richmond, VA? He was a Cashie, too.…

You're in great company along with the scammers, like "Faketoshi" Craig Wright.

In reply to by Cryptopithicus Homme

currency Mon, 06/11/2018 - 14:41 Permalink

Argentina's IMF Bailout - IMF is the worst partner you could have, they give bad advise and make demands your screwed. Argentina should stop trying to waste funds to support the PESO, for the MKT is bigger than Argentina.

Argentina needs to hold on to their valuable funds/assets, let the MKT set the rate of the Peso, let the Peso find its own level in the MKT.

Ricki13th Mon, 06/11/2018 - 14:44 Permalink

Emerging markets rout getting worse. The debt ridden latin markets are among the biggest risk out there now. The fed is about the raise interest rates which will cause the yield curve to invert by the end of August this year.

Scuba Steve Dancing Disraeli Mon, 06/11/2018 - 16:05 Permalink

I'm still trying to figure out why the hell would common sense American people give a fuck about physical global trade at this point ... you really think the average American going to work every day, paying taxes really benefits from physical Global Trade?

There needs to be a reduction in the number of widgets coming out of this country and the ones we do produce need to be the best in the world. At that point folks would look around at all the free monies being doled out to lazy and illegal fukks. And all of sudden the worthless money-grabbin traitorous Congressmen would have to re-think their mission.

Gold/Silver as national currency with local bank holding local gold/silver ... issue what you want after that as a fiat as long as it is backed by the gold/silver deposits locally.


In reply to by Dancing Disraeli

pashley1411 Mon, 06/11/2018 - 15:03 Permalink

Wonder who has those Argentine 100 year bonds.    If kept in good condition I'm sure they make wonderful tinder.     In 100 years Argentina will be a province of the Falklands.

mummster Mon, 06/11/2018 - 15:11 Permalink

You can do better than this Tyler.....very deceiving way of showing the graphs


One is a 4 day chart, the other is a 2 month chart


There is enough confusion and misinformation without adding to the chaos


Long time reader

JibjeResearch Mon, 06/11/2018 - 16:24 Permalink

Argentina needs to use Euro and/or Yuan to stabilize the liquidity...

Must do 1: Get into cryptos now...

Must do 2: Get the debt down by selling asset.

This shitshow ain't gonna end anytime...

It's very sad for the poor Argentine.

surf@jm Mon, 06/11/2018 - 17:21 Permalink

Well lets collapse the dollar also, so the refugees of those shithole countries dont show up here looking for handouts....

If you cant beat the shitholes then join them.....Lmao!.....

PrometeyBezkrilov Tue, 06/12/2018 - 00:12 Permalink

Obviuosly the IMF has not milked all the resourses out of Argentina yet. Btw, I am not seeing the idiotic comments about socialist paradise going down in flames? How come? I thought only "socialist" countries don't know anything about economics and how to manage their currencies.

PlymouthColony… Tue, 06/12/2018 - 03:35 Permalink

The IMF has taken over and presumably will impose austerity. Yet to come: a shrinking economy, unemployment, strikes, riots, failure of government, sovereign debt default, a new currency, etc. It seems to be the Argentine way.