Guillermo Moreno: “It is not unreasonable that the official dollar reaches 6 pesos at year-end”

January 21, 2013

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Interior Commerce Secretary surprised and predicted that the government could devalue between 18 and 20 per cent in 2013.

Interior Commerce Secretary Guillermo Moreno said today, “It is not unreasonable that the official dollar reaches 6 pesos at year end”, which would mean 20 per cent devaluation.

While the 2013 Budget states that the price of the dollar will not exceed 5.10 average weights throughout the year, the official now opened a vein of uncertainty about the future of the currency in the short term.

According to the results of the trade carried on tour by UAE, Indonesia and Vietnam, Guillermo Moreno anticipated some of the projections that the economy expected to Argentina before returning to the country.

Against the dollar estimate for the budget this year, Trade Secretary acknowledged, “It is not unreasonable to think that you can close 2013 near six pesos, with an appreciation rate similar to last year.”