black market dollar

Argentina just defaulted on their international loans a couple of weeks back. They defaulted on tens of billions of dollars. This is the second time they’ve done so since 2001. In 2001, the value of a peso essentially hit zero. This year, they’re still hanging in there somehow. Even so, investors expect the peso to lose 11% of it’s value against the dollar in the next 90 days. The good news for non-Argentines is that the peso is losing value faster than people can change their prices. Especially ski resorts. Lift ticket prices were fixed in the fall. Yet, the value of the dollar continues to rise against the peso. The […]