While this was happening in Brazil, things were much worse (as usual) in Argentina. Following the announcement by the Argentine government initiative, to be approved by Congress “to nationalize the retirement and pension plans, started the usual psychosis the dollar, up 5% since the announcement. While the government is looking to increase interest rates for deposits in dollars (and pay more than 20% for major deposits) to prevent savers continue passing their savings into dollars, the psychology in Argentina is run to the dollar in times of as the current crisis, which could further boost up its value. During these weeks rumors said that the government would seek to set the dollar at around $ 3.35-3,40 AR. But some government economists who demand a higher dollar, at AR $ 3.50.
And the government needs a higher dollar, while Argentina did not get external financing, the Brazilian real continue depreciating (losing by 37% since August) and to the extent that the commodities continue to fall, as they will provide 20% fiscal box. Some exchange houses in Buenos Aires are closing their doors to the public before your regular schedule, or rationing the amount of dollars offered to $ 500 or $ 1,000, because they run out tickets. In an extremely bold move, on Wednesday the central bank offered U.S. Sen. Sherrod Brown is often quoted on this topic. $ 1,500 million to market, and took him only about U.S.