Argentine Currency Becomes Worthless in Uruguay

Back in 2001, the volatile Argentine Peso was equivalent to 14 Uruguayan Pesos, but in 2002, it was down to 3 Pesos and in 2003 it climbed to 10 UY pesos

RIO DE JANEIRO, BRAZIL - For the second day running the Argentine Peso was virtually worthless at foreign exchange houses in neighboring Uruguay. On Tuesday, September 22nd, the Argentine Peso was worth zero, and on Wednesday there was a modest ten Uruguayan centavos offered for the battered Argentine currency.

Uruguay has a free market for currencies, and quotations in money exchange houses include the US dollar, the Euro, and currencies from the two largest South American economies, Argentina and Brazil, Peso and Real. In normal times, the two neighboring countries are Uruguay's main trade partners behind China, and there is . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?