To: March I up
All I know of the Argentine peso is that it was once artificially pegged 1 for 1 with the US Dollar. After a while, the bottom obviously fell out on that one. Presently, it is about 3 for 1 with the US dollar, which makes for VERY affordable vacationing.
12 posted on
02/11/2005 8:50:16 AM PST by
CitadelArmyJag
("Tolerance is the virtue of the man with no convictions" G. K. Chesterton)
To: CitadelArmyJag
I seem to recall that the peso was actually backed by the dollar as opposed to gold/silver reserves (which also I believe they refuse to back their IMF payments/negotiations). Quick scans of recent articles portray a (putting it mildly) bleak situation for Argentina. Some insist that now is the time for investment there.
Always an interesting spot on the globe...
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