Argentine Peso versus World Currencies
November 23rd, 2007 Posted in business, day to dayWritten by Jamie
Watching TV and reading the news I have been hearing more and more about the weakening United States Dollar. Here in Argentina, we have seen the dollar continue to be strong against the Peso. I am not sure how many other currencies in the world, at least desireable places to live, can say this. In addition to the strong dollar, other currencies that are strong against the dollar, benefit even more. For example, the British Pound is currently almost 6.5 to 1 Peso and the Euro is about 4.66 to 1.
Below is a 5 year chart (courtesy of Yahoo!) of the US dollar vs the Argentine peso. Since the crisis of 2001-2002 corrected itself, this graph shows the dollar steadily climbing.
What does this mean? I am not sure, but it is safe to say that those with dollars, euros, and pounds can expect great deals on most things here. How long will it last? My crystal ball is a little cloudy, but as we say here in Argentina, “vamos a ver”, we will see!
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