Argentina to extend currency band in 2019 News Sectors ...
- News
Sectors
- Agenda
- Bananas
- Citrus
- Climate
- Company news
- Cooling
- Exotic fruit and vegetables
- Food safety
- FreshPlaza Funny
- Fruit
- General fresh produce
- Search
- Job Offers
- Photos
- Calendar
- Subscribe
Announcements
- Click here to receive this news directly in your inbox
Job Offers
- Internationaal Verkoper / Trader AGF - Barendrecht
- Production lab manager - Oregon, USA
- Verkoper Groothandelsmarkten - Rotterdam
- Procurement Executive - Middle East
- Grower manager - Hawick, South East Scotland
- Experienced export manager looking for new opportunities
- Sales Executive Fruit & Exotics - Rotterdam
- Product Manager / Concept Manager - Verspakketten - Ridderkerk
- District sales manager - British Columbia and Alberta, Canada
- Grower - Carlisle, Pa. USA
Specials more
Top 5 -yesterday
- Zespri makes $95m on share sales
- ‘Napier Port is of critical importance to the industry’
- Will Poland lose its leading position in the export of apples and concentrates?
- UK: Groceries Code covers new retailers
- “There is no longer a mushroom shortage as suggested in the media"
Top 5 -last month
- “Dry weather causes celeriac shortageâ€
- US: Putting agri technology to the test
- What puts Aldi ahead of other discounters?
- ''Northern hemisphere Clementines and Mandarins expected in 2-3 weeks"
- Photo Report: French apple exporters see an opportunity in the US
Top 5 -last week
- Peru is the third biggest supplier of avocados to China and the second to Japan
- “Large Brazilian mango supply puts pressure on pricesâ€
- City of London to offer cyclists free lights and fruit
- Kenya: Again poor potato production numbers
- North Korea: Kim Jong-un promotes Samjiyon as potato production hub
Position of peso remains precarious
Argentina to extend currency band in 2019The Central Bank of Argentina will extend the use of a currency trading band into next year and will likely manage peso fluctuations less than at present. This would be a sign that the country̢۪s IMF-backed monetary policy is bearing fruit at the end of what was a horrible year.
Central Bank President Guido Sandleris in an interview with Bloomberg in Buenos Aires on Friday: "We are going to continue working with zones of intervention and non-intervention during next year," The pace of adjustment will likely be "a little bit lower than it is now. Right now it̢۪s at 3 percent. It could be a little less."
The peso fell in early trading on Monday. It was 0.2 percent down at 35.55 to the US dollar in Buenos Aires.
Sandleris has overseen the roll-out of the Central Bank̢۪s month-old monetary policy implemented after the International Monetary Fund agreed in September to boost its bailout for South America̢۪s second-biggest economy to $56.3 billion.
The peso, now the worst performing currency in emerging markets of 2018, gained nearly 14.7 percent against the dollar in October, the most since data first became available in 2003. Inflation expectations cooled in October after three months of turbulence and government bond yields have stabilized, too.
Under Sandleris’s plan, the peso is allowed to trade in a "non-intervention zone†of about 35 to 45 pesos per dollar, and the range is adjusted 3 percent every day compared to its value a month earlier.
Despite the recent gains, Sandleris isn̢۪t celebrating. He sees major international and domestic economic risks ahead. The bank ditched inflation targeting for what many analysts see as an aggressive, even drastic, policy mix that could exacerbate a gathering recession. The end of the easy money era globally isn̢۪t making life any easier either.
Publication date :
Receive the daily newsletter in your email for free | Click here
Other news in this sector:
- 2018-11-06 UK: May's deal to fix Irish question regarding Brexit
- 2018-11-06 Chile and China signed agreements to export fruit
- 2018-11-06 New Zealand: Pacific seasonal worker cap increased
- 2018-11-06 Government to announce water allocation before month̢۪s end
- 2018-11-06 Argentina to extend currency band in 2019
- 2018-11-06 UK: Aldi to donate leftover festive food on Christmas Eve
- 2018-11-05 Level 1 Water Restrictions start November 3
- 2018-11-05 Japanese cooperatives travel to Spain to learn about fresh cut industry
- 2018-11-05 Lebanese bananas regain access to Syria
- 2018-11-05 AU: Strawberry industry recovery officer appointed
- 2018-11-05 UK: Groceries Code covers new retailers
- 2018-11-05 Increase in Pacific worker numbers good for horticulture
- 2018-11-02 Jack Ma backs global Alibaba strategy in final letter to shareholders
- 2018-11-02 Putin overstates Moldovan exports to Russia
- 2018-11-02 New Zealand is beating Australia regarding Pacific work force
- 2018-11-02 ‘Removal of GSP by US no cause for concern in Thailand’
- 2018-11-01 Vietnamese market also open to Belgian apples from 1 November 2018
- 2018-11-01 South African farmers still face challenges, even after rains
- 2018-11-01 Moldovan president: ‘Talks with Putin were a breakthrough’
- 2018-11-01 New Safe Food for Canadians Act - module launched
<< Back | FreshPlaza.com
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
© FreshPlaza.com 2018
Source: Google News Argentina | Netizen 24 Argentina
No comments