Floating towards disaster

Argentine peso risk

When Argentina abolished its convertibility law on January 6, the peso’s parity with the dollar ended, and companies in Argentina were ushered into a new era of foreign exchange risk. But while forex risk has become a potentially lethal exposure for many companies, little can yet be done to hedge forex exposures. Argentina’s central bank, fearing the collapse of Argentina’s weakened financial institutions, has maintained a fierce grip on the economy.

“It is very difficult to even find out wh

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