Minister of Economy, Luis Caputowe talked about this Thursday before. Industrial Union of Argentina (UIA)where he mentioned exchange scheme Current and strengthened official position on dollar.
“I’m very happy with the band system.”said the Minister of Finance at the 31st Industrial Conference.
“Many countries have started stabilization programs with replacement bands. that is what is proven”, he defended the minister along these lines.
Then he explained the reason as follows There are no plans yet to abolish the current system.the dollar fluctuates between $931 and $1,502. For the Minister, these values are “Well adjusted”.
Dollar: Luis Caputo explained why he has no plans to pull the band up anytime soon
At the UIA meeting, Luis Caputo He responded to those calling for the exchange band to be lifted and the dollar allowed. float freelyhe does not agree with this concept.
The Minister justified this as follows: high currency volatility Argentina: “Our foreign exchange market is still a more or less functioning market today.” $200 million per day. 24 hours ago it was running at $90 million, so I’m putting a price on them,” he began.
And he said emphatically. “So don’t take this the wrong way, but if someone really believes they can float free in a market where $90, $100, $200, $250 million a day moves; It seems to me that they have never run a market”.
For Caputo, free floating is not a “serious” proposition and is not viable in this scenario. “For the first two hours, it’s going to be the same as it’s been the last few days.”.
“Imagine how easy it would be to operate it.”strengthened the minister.
News in development.
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