The government’s official rate is now 800 pesos to the dollar versus 400 previously. Original
Argentina's Milei, So Far Shunning Bitcoin, Devalues Peso by More Than 50%
Tag: Peso
Argentine central bank to introduce digital peso bill ‘as soon as possible’
After a series of remarks about the potential benefits of a central bank digital currency (CBDC) for the national economy, the Central Bank of the Argentine Republic said it has accelerated its work on legislation to implement the CBDC workflow in the country. On Oct. 18, during a public discussion on the Filo News channel, Argentina Central Bank director Juan Agustín D’Attellis Noguera revealed that the central bank is working on the legislative framework for the digital peso CBDC project recently proposed by the Minister of Economy and presidential candidate Sergio…
Num Finance launches Colombian peso stablecoin on Polygon
Argentina-based Num Finance has announced it has gone live with a n stablecoin pegged to the Colombian peso, the company announced Aug. 24 in an X post. The stablecoin — called nCOP — is an overcollateralized, Polygon-based stablecoin and is aimed at the remittance market. Colombia receives over $6.5 billion a year in remittances, Num stated in a blog post. Remittances are one of the key use cases for stablecoin. The nCOP logo. Source: Num Finance The nCOP incorporates the “Num yield feature,” which allows user rewards to be paid…
Colombian Peso Stablecoin Goes Live on Polygon, Aiming for $10B Remittances Market
Num Finance already issues stablecoins pegged to the Argentine and Peruvian local currencies. Source
Bitcoin (BTC) Prices Lack Direction Despite Ruble and Argentinian Peso Crash
The leading cryptocurrency by market value, widely considered digital gold due to its finite supply, remains listless above $29,000, extending its multi-week dull price action. Bitcoin was one of the preferred safe havens during Turkey’s currency crisis of 2021. Gold, meanwhile, hit a seven-week low of $1,896 per ounce on Tuesday and traded around $1,905 at press time. Original
Argentina criminalizes peso burning amid growing crypto use
Argentina has outlawed the burning or tearing of the country’s fiat currency, the peso, in Buenos Aires soccer stadiums. On Aug. 10, the Argentinian government issued a proclamation criminalizing any form of destruction of the peso (ARS), even as year-on-year inflation in the South American country surpassed 100%. Soccer fans from neighboring countries have been tearing and burning peso notes in stadiums to provoke their Argentine rivals. In response, the Agency for the Prevention of Violence in Sports has stated that law enforcement officers would arrest offenders, and they could…
Bitcoin hits all-time high against Argentine peso
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The persistent inflation in Argentina has resulted in a record high price of bitcoin against the Argentine Peso (ARS) on April 25. The exchange rate of BTC to ARS crossed over 6.59 million ARS on April 18, according to aggregated price data tracked by Google Finance. BTC/ARS YTD chart | Source: Google Finance Despite a 9% correction, the BTC/ARS exchange rate currently stands at approximately 6 million ARS, representing a significant increase of more than 100%…
Argentine Peso Plunges, Venezuela and Russia to Develop SWIFT Alternative, Bitcoin Mining Still Paused in Venezuela – Bitcoin News
Welcome to Latam Insights, a compendium of the most relevant crypto and economic development news from Latin America during the last week. In this issue: the Argentine Peso plunges against the U.S. dollar, Venezuela and Russia agree to develop a joint SWIFT alternative, and Bitcoin mining is still paused in Venezuela. Argentine Peso Plunges 10% Against the Dollar The Argentine Peso has lost more than 10% against the U.S. dollar during the last week, going from less than 400 pesos per dollar in the informal blue exchange rate to more…
Central Bank of Argentina to Issue New 2,000 Peso Bill as Inflation Keeps Rising – Economics Bitcoin News
The Central Bank of Argentina has announced the issuance of a new 2,000 peso bill, aimed at easing the burden of using cash for payments in the country. The bill, which will have a value of a little more than $5 ‘blue’ dollars (the informal exchange rate), is already being criticized as an insufficient measure. Argentine Central Bank Announces 2,000 Peso Bill The Central Bank of Argentina has taken a new measure in its quest for securing the usability of cash as a means of payment in the country. The…
Argentine Peso Loses Almost 12% Against the Greenback During January; Inflation Projected to Rise Sharply – Economics Bitcoin News
The Argentine peso has fallen consistently against the U.S. dollar this month, losing almost 12% since Jan. 1. The behavior of the exchange rate for the informal “blue” dollar keeps bringing concerns about a possible escalade in inflation rates, that are predicted to reach almost 100% this year, similar to the rates registered in 2022. Argentine Peso Keeps Falling Argentina is currently submerged in a devaluation scenario that has the possibility of causing an escalation in prices this year. The value of the Argentine peso against the U.S. dollar has…