A mishmash of exchange rates for <-bsp-bb-link state="{"bbHref":"bbg://securities/1310Z%20AR%20Equity","_id":"0000018b-dead-de26-a7ef-febd15110002"
A mishmash of exchange rates for <-bsp-bb-link state=”{“bbHref”:”bbg://securities/1310Z%20AR%20Equity”,”_id”:”0000018b-dead-de26-a7ef-febd15110002″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Argentina-bsp-bb-link>’s chaotic currency system are hanging in the balance as the nation prepares to choose its next president.
Libertarian candidate <-bsp-person state=”{“_id”:”0000018b-dead-de26-a7ef-febd15140001″,”_type”:”00000160-6f41-dae1-adf0-6ff519590003″}”>Javier Milei-bsp-person> has vowed to do away with the peso — and the myriad of exchange rates — by adopting the <-bsp-bb-link state=”{“bbDocId”:”RZEC01DWLU68″,”_id”:”0000018b-dead-de26-a7ef-febd15140002″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>US dollar-bsp-bb-link>. His rival, Economy Minister <-bsp-person state=”{“_id”:”0000018b-dead-de26-a7ef-febd15140003″,”_type”:”00000160-6f41-dae1-adf0-6ff519590003″}”>Sergio Massa-bsp-person>, has embraced capital controls and revived a plan to devalue the peso — at <-bsp-bb-link state=”{“bbDocId”:”S2QN8RT1UM0W”,”_id”:”0000018b-dead-de26-a7ef-febd15140004″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>a pace of 3% per month-bsp-bb-link>.
“Regardless of who wins, a currency devaluation will need to happen,” <-bsp-person state=”{“_id”:”0000018b-dead-de26-a7ef-febd15170000″,”_type”:”00000160-6f41-dae1-adf0-6ff519590003″}”>Jason Tuvey-bsp-person>, Deputy Chief Emerging Markets Economist for <-bsp-bb-link state=”{“bbHref”:”bbg://securities/4471071Z%20LN%20Equity”,”_id”:”0000018b-dead-de26-a7ef-febd15170001″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Capital …
-bsp-bb-link>
news.bloomberglaw.com