Currency Report: September 6, 2019

Argentina

The Central Bank of Argentina reimposed currency restrictions on September 1. This was a reverse from four years ago after President Mauricio Macri took office and reversed the unpopular monetary policy of his left-wing predecessor.

As professors Stephen Nelson of Northwestern University and David Steinberg of Johns Hopkins University explain in the Washington Post, the decision by the central bank comes as the economic crisis in Argentina worsens and will hurt Macri’s reelection chances in October.

The Argentine peso appreciated against the US dollar this week. The Argentine peso closed at 55.8 pesos per dollar on Friday compared to 58.25 on Monday, a -4.21 percent change. The Argentine peso has depreciated against the US dollar in the last three months by 24.3 percent and depreciated by 47.04 percent since this time last year.

The Argentine peso appreciated against the euro this week. The Argentine peso closed at 61.53 pesos per euro on Friday compared to 63.89 on Monday, a -3.69 percent change. The Argentine peso has depreciated against the euro in the last three months by 21.55 percent and depreciated by 43.59 percent since this time last year.

Bolivia

The Bolivian boliviano appreciated against the US dollar this week. The Bolivian boliviano closed at 6.84 bolivianos per dollar on Friday compared to 6.935 on Monday, a -1.37 percent change. The Bolivian boliviano has appreciated against the US dollar in the last three months by -1.23 percent and appreciated by -1.37 percent since this time last year.

The Bolivian boliviano appreciated against the euro this week. The Bolivian boliviano closed at 7.543 bolivianos per euro on Friday compared to 7.606 on Monday, a -0.83 percent change. The Bolivian boliviano has appreciated against the euro in the last three months by -3.41 percent and appreciated by -5.83 percent since this time last year.

Brazil

The Brazilian real broke an eight week trend on Friday when it registered a weekly gain compared to the United States dollar.

Reuters reports that the gain is partially due to investors adding risk into their portfolios, a stronger international financial market, and positive domestic numbers.

The Brazilian real appreciated against the US dollar this week. The Brazilian real closed at 4.063 reales per dollar on Friday compared to 4.187 on Monday, a -2.96 percent change. The Brazilian real has depreciated against the US dollar in the last three months by 4.72 percent and depreciated by 0.07 percent since this time last year.

The Brazilian real appreciated against the euro this week. The Brazilian real closed at 4.48 reales per euro on Friday compared to 4.592 on Monday, a -2.44 percent change. The Brazilian real has depreciated against the euro in the last three months by 2.4 percent and appreciated by -4.48 percent since this time last year.

Chile

The Chilean peso appreciated against the US dollar this week. The Chilean peso closed at 711 pesos per dollar on Friday compared to 725.25 on Monday, a -1.96 percent change. The Chilean peso has depreciated against the US dollar in the last three months by 2.66 percent and depreciated by 2.9 percent since this time last year.

The Chilean peso appreciated against the euro this week. The Chilean peso closed at 784.02 pesos per euro on Friday compared to 795.46 on Monday, a -1.44 percent change. The Chilean peso has depreciated against the euro in the last three months by 0.39 percent and appreciated by -1.78 percent since this time last year.

Colombia

The Colombian peso appreciated against the US dollar this week. The Colombian peso closed at 3351 pesos per dollar on Friday compared to 3443 on Monday, a -2.67 percent change. The Colombian peso has depreciated against the US dollar in the last three months by 1.82 percent and depreciated by 9.55 percent since this time last year.

The Colombian peso appreciated against the euro this week. The Colombian peso closed at 3695 pesos per euro on Friday compared to 3776 on Monday, a -2.15 percent change. The Colombian peso has appreciated against the euro in the last three months by -0.46 percent and depreciated by 4.53 percent since this time last year.

Costa Rica

The Costa Rican colon depreciated against the US dollar this week. The Costa Rican colon closed at 576.15 colones per dollar on Friday compared to 569.53 on Monday, a 1.16 percent change. The Costa Rican colon has appreciated against the US dollar in the last three months by -2.68 percent and appreciated by -1.14 percent since this time last year.

The Costa Rican colon depreciated against the euro this week. The Costa Rican colon closed at 635.32 colones per euro on Friday compared to 624.66 on Monday, a 1.71 percent change. The Costa Rican colon has appreciated against the euro in the last three months by -4.83 percent and appreciated by -5.64 percent since this time last year.

Mexico

The Mexican peso appreciated against the US dollar this week. The Mexican peso closed at 19.53 pesos per dollar on Friday compared to 20.15 on Monday, a -3.08 percent change. The Mexican peso has appreciated against the US dollar in the last three months by -0.81 percent and depreciated by 1.09 percent since this time last year.

The Mexican peso appreciated against the euro this week. The Mexican peso closed at 21.54 pesos per euro on Friday compared to 22.1 on Monday, a -2.53 percent change. The Mexican peso has appreciated against the euro in the last three months by -2.97 percent and appreciated by -3.49 percent since this time last year.



Categories: Analysis, Currency Report

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