Friday, February 17, 2017 Weaker dollar worries exporters amid a country flush with cashExchange falls to 15.71 pesos per dollar, lowest rate since last NovemberThe sinking dollar started to stoke fears in the country’s industrial sector, after it fell to 15.71 pesos per dollar yesterday — it’s lowest value since last November — extending the month long downward trend. “This worries us and we are preoccupied by it,” said Argentine Industrial Union Vice-President Daniel Funes de Rioja to El Cronista newspaper. “A dollar falling below the inflation rate makes exports difficult and makes it easier to purchase abroad, which affects my competitivity,” he said. However, this phenomenon isn’t an isolated event, almost all currencies are continuing to appreciate versus an American dollar that falls. The Brazilian real is even appreciating faster against the US dollar than the Argentine peso.
Source: Bueno Aires Herald February 17, 2017 18:59 UTC