Lee Duna to NewsEnglish • 10 months agoArgentina announces a 50% devaluation of its currency as part of shock economic measureswww.cbsnews.comexternal-linkmessage-square29fedilinkarrow-up1138arrow-down12
arrow-up1136arrow-down1external-linkArgentina announces a 50% devaluation of its currency as part of shock economic measureswww.cbsnews.comLee Duna to NewsEnglish • 10 months agomessage-square29fedilink
minus-square@alvvaysonlink23•10 months agoCorrect. Usually when governments devalue currency, it’s a move to find equilibrium slightly above the black market value of that currency. I read that the official rate was 380 to the dollar and is now 800, while black market rate was 1000. So this devaluation is still 20% higher than the black market rate.
Correct. Usually when governments devalue currency, it’s a move to find equilibrium slightly above the black market value of that currency.
I read that the official rate was 380 to the dollar and is now 800, while black market rate was 1000.
So this devaluation is still 20% higher than the black market rate.