Economic Policy Secretary Gabriel Rubinstein said on Thursday that the official exchange rate will remain at AR$350 to the dollar until October 23 — the day after the presidential elections. In an interview with Radio Mitre, Melconián predicted that the government would put the official exchange rate at “AR$350 plus the combined inflation rate of August September, and October’s inflation rate.”“It will be a new exchange rate that won’t scare anyone — AR$500,” he said. Since Tuesday (as Monday was a bank holiday) the exchange rate decreased by 8% and closed at AR$905 on Wednesday. The MEP dollar rate, used in financial operations, surged by 1% this week and closed Wednesday at 870.46%. With the election looming large, a surge in the exchange rate would further complicate the economy and the ruling party’s chances.

Source: Bueno Aires Herald October 19, 2023 12:44 UTC