{"id":15390,"date":"2015-12-17T09:35:44","date_gmt":"2015-12-17T14:35:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=15390"},"modified":"2015-12-17T09:35:44","modified_gmt":"2015-12-17T14:35:44","slug":"argentine-peso-collapses-29-after-government-lifts-currency-controls","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=15390","title":{"rendered":"Argentine Peso Collapses 29% After Government Lifts Currency Controls"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-12-17\/argentine-peso-collapses-29-after-government-lifts-currency-controls\" target=\"_blank\">Argentine Peso Collapses 29% After Government Lifts Currency Controls<\/a><\/h3>\n<div class=\"node\">\n<div class=\"content\">\n<blockquote>\n<div class=\"quote_start\"><em>For those interested in a case study of what happens after a dramatic devaluation,\u00a0<strong>you now have front row seats for what is likely to be a 25-30% peso plunge.<\/strong>\u00a0Grab the popcorn.\u00a0<\/em><\/div>\n<\/blockquote>\n<p>That&#8217;s what we said on Wednesday evening in &#8220;<a href=\"http:\/\/www.zerohedge.com\/news\/2015-12-16\/prepare-peso-plunge-argentina-lifts-currency-controls\">Prepare For Peso Plunge: Argentina Lifts Currency Controls<\/a>,&#8221;\u00a0after the country&#8217;s FinMin Alfonso Prat-Gay announced that, as promised, new President\u00a0Mauricio Macri would move to unify the official and black market exchange rates in the face of depleted FX reserves and still sky high inflation.<\/p>\n<p>Here&#8217;s what the gap looked like as of yesterday:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user92183\/imageroot\/2015\/12\/ArgentinaGap.png\" alt=\"\" width=\"550\" height=\"310\" \/><\/p>\n<p>On Thursday, the move to a float sent the peso plunging by nearly 30%:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user92183\/imageroot\/2015\/12\/20151217_peso_0.jpg\" alt=\"\" width=\"600\" height=\"310\" \/><\/p>\n<div id=\"tt-wrapperae8bd0d\" class=\"tt-wrapper inread \"><\/div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user92183\/imageroot\/2015\/12\/20151217_peso1_0.jpg\" alt=\"\" width=\"600\" height=\"301\" \/><\/p>\n<p>Now let&#8217;s just hope Macri&#8217;s move to negotiate new terms for the $17 billion derivatives book amassed by former central bank governor Vanoli is enough to keep the country from taking a massive hit on its dollar futures.<\/p>\n<div class=\"fivestar-static-form-item\"><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Argentine Peso Collapses 29% After Government Lifts Currency Controls For those interested in a case study of what happens after a dramatic devaluation,\u00a0you now have front row seats for what is likely to be a 25-30% peso plunge.\u00a0Grab the popcorn.\u00a0 That&#8217;s what we said on Wednesday evening in &#8220;Prepare For Peso Plunge: Argentina Lifts Currency [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[9537,1036,4318],"class_list":["post-15390","post","type-post","status-publish","format-standard","hentry","category-economics","tag-argentine-peso","tag-currency-collapse","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15390"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15390\/revisions"}],"predecessor-version":[{"id":15391,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15390\/revisions\/15391"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}