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1/4/17

Chart of the day is...

...the forex between the Argentina Peso (ARS) and the United States Dollar (USD) for the last six months:


Why six months? That's because President Macri promised his people that the austerity measures introduced when he became Prez would begin to kick in during the second half of 2016, that Argentina's macro scenario would improve, that the short-term pain the country was going through would all be worth it. Well folks, that short-term is already medium-term, precious little improvement has shown through, the economy is still stuck and all that shows in the most basic of all the macro numbers. I mean, would you swap your dollars for pesos in order to FDI into Argentina after looking at that chart?

Chart from XE.com, who do nice forex charts.