Two of Latin America’s largest economies Brazil and Argentina with eyes to strength in numbers along the lines of the Euro, plan a common currency to reduce the risk that comes with relying on the US dollar. Both countries have been in a cycle of a financial roller coaster since the Latam financial crisis of the 1970’s. Market crashed continue to pop up in recent years. The hope is it would strengthen trade amongst the group. It would at first … Continue reading “Brazil and Argentina Plan for a Latin American Common Currency”
Argentina Peso Collapses 30% To Record Low After Election Shock
The Argentinian peso and government bonds collapsed Monday after Argentina’s center-right President Mauricio Macri lost primary elections by a far greater margin than expected on Sunday. The ARSUSD lost almost 30% to around 59 per U.S. dollar shortly after the market open.
Argentine Peso Collapses 9% to All Time Low As Crisis Deepens
Argentina’s currency the Peso collapsed Monday 9% to an all time low against the US Dollar. Nervous investors continued to dump the Peso carry trade ahead of bond repayments and an IMF meeting in fear of another Argentine Currency Crisis.