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Thu Jan 17, 2013, 07:36 PM

 

Argentina: black market dollar hits new high

This is not a surprise to anyone with even the most rudimentary understanding of banking and economics.




Meanwhile Montevido is booming at Argentina's expense.

3 replies, 530 views

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Reply Argentina: black market dollar hits new high (Original post)
naaman fletcher Jan 2013 OP
NoOneMan Jan 2013 #1
naaman fletcher Jan 2013 #2
NoOneMan Jan 2013 #3

Response to naaman fletcher (Original post)

Thu Jan 17, 2013, 07:41 PM

1. Don't you mean low?

 

Looks inflated vs US dollar.

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Response to NoOneMan (Reply #1)

Thu Jan 17, 2013, 07:45 PM

2. nope..

 

Right now it takes 7.5 pesos to buy a dollar. It used to cost less.

If, as an example:

It used to cost 4 pesos to buy a dollar, but now it costs 7.5, that means the peso is not worth as much compared to a dollar.

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Response to naaman fletcher (Reply #2)

Thu Jan 17, 2013, 07:55 PM

3. "It used to cost less"

 

Yeah, that means its low now (not high). Suffering inflation lowers its value relative to the us, meaning its at an all time low.

At least where I live thats how we look at it. The more of our dollars it takes to buy USD, its low. When our dollar goes above par, its high.

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