{"id":2001431,"date":"2023-08-15T15:24:01","date_gmt":"2023-08-15T19:24:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentina-devalues-peso-raising-rates-after-primary-elections\/"},"modified":"2023-08-15T15:26:53","modified_gmt":"2023-08-15T19:26:53","slug":"argentina-devalues-peso-raising-rates-after-primary-elections","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentina-devalues-peso-raising-rates-after-primary-elections\/","title":{"rendered":"Argentina devalues peso, hikes rates post-primary elections."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fargentina-devalues-peso-raising-rates-after-primary-elections%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2001431&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Argentine congressman and presidential pre-candidate for La Libertad Avanza Alliance Javier Milei delivers a speech during the closing of his campaign for \u2064the August 13 primary \u2062elections, at \u200dthe Movistar \u200bArena in Buenos Aires\u200b on August\u2062 7, \u20622023.\u200d (Photo by LUIS \u200bROBAYO\/AFP via Getty Images)<\/figcaption><\/figure>\n<p>OAN\u2019s <a rel=\"noreferrer noopener\" href=\"https:\/\/www.oann.com\/tag\/abril-elfi\" target=\"_blank\">Abril Elfi<\/a><br \/>12:19 \u200bPM \u2013 Tuesday, August 15, 2023<\/p>\n<p>In response to pressure on Argentina\u2019s financial markets following a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-state-2024-race-shapes-up-as-candidates-vie-to-replace-katie-porter\/\" title=\"California's 2024 race intensifies as contenders compete for Katie Porter's seat.\">primary \u200belection<\/a>,\u200c the Argentinian government decreased\u200b the value \u200dof\u2064 its currency \u2062by nearly 18%.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>On Monday, the central\u2062 bank\u200d said the Argentinian government devalued its currency by roughly 18% and increased\u2064 the benchmark\u2064 interest \u200brate by 21 percentage\u200c points from 97% to\u2063 118%. <\/p>\n<p>Javier Milei, the presidential candidate who has \u200cvoiced admiration for Trump, won the \u2063largest percentage of primary votes for the upcoming October \u2063general election on Sunday.<\/p>\n<p>The \u206452-year-old claims\u200d he\u200c wants to get rid \u200cof the country\u2019s central bank and \u200breplace\u2064 the\u2064 peso with the American dollar. <\/p>\n<p>Millei has strong\u2063 opinions that have\u2064 shaken up the country\u2019s\u2062 election decisions. He has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/probe-zero-racial-bias-within-alleged-eating-while-dark-incident-janitor-was-positioned-on-leave-over-claims\/\" title=\"PROBE: Zero Racial Bias WITHIN Alleged \u2018Eating While Dark\u2019 Incident. Janitor Was POSITIONED ON Leave Over Claims.\">reportedly stated<\/a> that sex education is destroying families and wants schools to get rid of it, as well as saying that climate change is a \u200dlie. <\/p>\n<p>He has also proposed the \u201cderegulation of the legal market\u201d \u2062for guns and \u201cthe\u200d protection\u200d of its legitimate and\u200b responsible use by\u200c the citizens,\u201d and said that \u2062the \u2063sale of human organs\u200b should be legal.<\/p>\n<p>Argentinian President\u2063 Alberto Fernandez\u2019s\u2064 claims that his administration had run out of money and options to defend an \u2062unsustainable exchange rate after \u200csuffering defeat in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentina-devalues-peso-raising-rates-after-primary-elections\/\" title=\"Argentina devalues peso, hikes rates post-primary elections.\">primary election \u2062reportedly heavily impacted<\/a> the decision \u2062to devalue the peso.<\/p>\n<p>According to \u2063the central bank,\u200b the\u200c official\u2063 foreign\u200c currency (FX) rate will remain set at 350 pesos to the\u200b dollar until the October elections.<\/p>\n<p>People in Argentina\u200c who couldn\u2019t access the dollar\u2062 on the official market\u2064 rushed\u200b to\u200d purchase the currency on the streets of Buenos Aires, driving the unofficial\u2063 exchange rate down as much\u200b as 12% \u200dto about 690 \u200bpesos \u200dper dollar.<\/p>\n<p>William\u200d Jackson, Chief Emerging Markets \u200bEconomist, warned that keeping\u2064 the value of the peso steady until the elections\u200d will result\u200d in it being\u2064 \u201cseverely overvalued.\u201d <\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThe move to devalue \u200cthe\u200c currency will help to bring it closer to fair value,\u201d Jackson said. \u201cBut the fact that the peso will be held steady until the election, rather than be allowed to fall gradually (as has been the policy \u2064up till now) will just\u200d result in the currency becoming severely overvalued again \u2063in the coming months.\u201d<\/p>\n<\/blockquote>\n<p>Millei will \u200dcompete in a three-way race on October 22<sup>nd<\/sup> against Former Security Minister Patricia Bullrich, and Peronist coalition candidate and \u2064Economy Minister Sergio Massa.<\/p>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe \u200chere. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Congressman Scott Perry tells One America News that the\u2062 Department of \u200dJustice has obstructed justice by blocking the Oversight Committee\u2019s investigation of president Biden and his \u200dfamily.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The First Amendment is put\u200b under the spotlight after local \u201cKansas\u201d police raid the office of a \u2062small newspaper.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A grassroots fight over \u2062parental and\u200c transgender children\u2019s \u200drights is brewing in New Jersey. One America\u2019s Caitlin Sinclair has more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A Grand Jury may \u2063be\u200d indicting \u2062Trump in Georgia, while developers\u2062 could be trying to cash in \u200bon the recent Hawaii fire.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Christopher Bing and Raphael Satter WASHINGTON (Reuters) \u2062\u2013 Nebraska Republican Congressman Don \u200dBacon said late \u2062on Monday the FBI\u200b had \u200bwarned\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By\u200d VarunVyas Hebbalalu and Riddhima Talwani \u200dPOCHAMPALLI, TAMIL NADU (Reuters) -Ola Electric, India\u2019s\u200b largest maker of electric scooters, \u200blaunched its most \u2064affordable\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Casey Hall SHANGHAI \u2063(Reuters) \u2013 Only a few months\u200c after beginning her career as a \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-indicted-in-georgia-election-probe\/\" title=\"Trump charged in Georgia election investigation.\">livestream\u2063 sales host<\/a> in January, \u2062Zhang\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Yuvraj Malik (Reuters) -Technology firm Sea\u200c Ltd signaled on Tuesday \u2063it will boost investments in its\u200b core \u2064e-commerce business which may\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Argentine congressman and presidential pre-candidate, Javier Milei, concludes his campaign with a speech at Buenos Aires&#8217; Movistar Arena on August 7, 2023. (Photo by LUIS ROBAYO\/AFP via Getty Images) OAN\u2019s Abril Elfi12:19 PM \u2013 Tuesday, August 15, 2023.<\/p>\n","protected":false},"author":2196,"featured_media":2001432,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2001431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2196"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2001431"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2001431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2001432"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2001431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2001431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2001431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}