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Argentina Hikes Rates To 65% As Peso Plunges To New Record Low

September 28, 2018

Argentina Hikes Rates To 65% As Peso Plunges To New Record Low It appears the market is willing to test BCRA’s mettle as it pukes pesos down to a new record low against the greenback and pushes towards the bottom of its new “no intervention” band. The new record low is now 41.54/USD… While not […]

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Argentina Gets Record $57 Billion As IMF Boosts Bailout, Creates “No Intervention” Zone For The Peso

September 26, 2018

Argentina Gets Record $57 Billion As IMF Boosts Bailout, Creates “No Intervention” Zone For The Peso Just a few months after the IMF announced in June what was a record-setting $50 billion, 36-month bailout agreement with Argentina, the International Monetary Fund said it would expand the credit line to $57 billion in an attempt to […]

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Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency

September 2, 2018

Peso Set To Disintegrate After IMF Tells Argentina To Stop Supporting Currency On May 11, three days after Argentina secured a $50 Billion IMF bailout – the largest in the fund’s history – we jokingly noted that with the peso resuming its slide, an indication the market did not view the IMF backstop as credible, […]

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Argentina Blew A Billion Dollars To Rescue The Peso On Friday… And Failed

June 30, 2018

Argentina Blew A Billion Dollars To Rescue The Peso On Friday… And Failed Even Eva Peron would be crying… The last 24 hours have not been great for Argentina. First – despite endless jawboning about The IMF bailout and how it will secure the nation’s future and enable reforms, the currency collapsed to a new […]

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We’re Gonna Need A Bigger Bailout – Argentine Peso Plummets To New Record Low

June 29, 2018

We’re Gonna Need A Bigger Bailout – Argentine Peso Plummets To New Record Low The Argentine Peso collapsed again today – plummeting below last week’s record low to 29/USD. Desk chatter suggests that no one turned up this morning as the central bank announced it would increase its daily spot auctions to USD150mn on Thursday […]

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Argentine Peso Collapses To New Low Despite Massive Intervention

May 14, 2018

Argentine Peso Collapses To New Low Despite Massive Intervention Update: *ARGENTINE CENBANK SAID TO OFFER $5B IN PESO MARKET AT 25/USD – That’s 10% of reserves!! * * * The Argentine Central Bank spent over $1 billion buying pesos on Friday (and another billion to buy short-term bonds back) to support the collapsing currency… But… […]

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Mexican Peso Dives, Fretting Begins About Peso Crisis

July 30, 2015

Mexican Peso Dives, Fretting Begins About Peso Crisis “Everyone got used to playing with free, easy money. Now it’s going to cost us.” On July 1, the Financial Times wondered just how low the Mexican peso could go, likening the ill-fated currency to a limbo dance: “Every month, it gets just that little bit lower.” In […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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