21. Argentina: Driven Black
- Author:
- Meredith Hoffman
- Publication Date:
- 06-2014
- Content Type:
- Journal Article
- Journal:
- World Policy Journal
- Institution:
- World Policy Institute
- Abstract:
- BUENOS AIRES—When the peso hit rock bottom in January, Ande Wanderer rang up her money dealer—a former official in Argentina's nation-al government. She'd sold off her stocks, cashed in her American savings, and wired him the money. Now she rushed to his office, a ninth floor room in downtown Buenos Aires. The official ex-change rate was 8 pesos to the dollar. But her dealer gave her 11—the black market rate at the time—and kept a small fee for himself. That meant she got some 40 percent more pesos for her U.S. money.
- Political Geography:
- United States, America, and Argentina