Argentina Currency
Tips for Travelers to Central & South America
Revised October 1996 The information in this publication is in the public domain and may be reproduced without permission. When this material is reproduced, the Department of State would appreciate receiving a copy at: CA/P/PA, Room 6831, Department of State, Washington, D.C. 20520. CURRENT TRAVEL INFORMATIONThe Department of State's Consular Information Sheets are available for every country of the world. They describe topics such as unusual ... [Read More]
USIA, Economic Perspectives, March 1998 -- SubregionalTrading Groups
Seven CARICOM members form the smaller Organization of EasternCaribbean States, which has a common central bank and a commoncurrency, the only such arrangement in the Western Hemisphere. The Eastern Caribbean Central Bank issues the Eastern CaribbeanDollar, which is the currency of Antigua and Barbuda, Dominica,Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St.Vincent and the Grenadines, and of the British-dependentterritory of Anguilla. ... The General Treaty's original intent was to create a free tradearea among the Central American countries while establishing acommon tariff with nonmember countries. A Permanent Secretaryfor the treaty was established to provide institutional supportfor the integration process. There was also an agreement, signedin 1964, aimed at eventually harmonizing monetary policies andadopting a common currency. ... [Read More]
M) Money Laundering and Financial Crimes
Since 1997, the Superintendency of Banks and Other Financial Institutions (SBIF) has implemented controls to prevent and investigate money laundering including stricter customer identification requirements and the reporting of currency transactions and suspicious activity. These controls apply to all banks (commercial, investment, mortgage, private), savings and loan institutions, financial rental agencies, currency exchange houses, money remitters, money market funds, capitalization companies, and frontier foreign currency dealers. The institutions are also required to report currency transactions of more than U.S. $10,000 (or local currency equivalent), and suspicious transactions to a National Financial Intelligence Unit (UNIF) created in 1998 under the SBIF. The UNIF analyzes the suspicious activity reports and refers those deemed proper for further investigation to the appropriate enforcement authority, which could be the National Guard, Technical Judicial Police, or the Office of ... [Read More]
Department of State Washington File: United States Finds No Currency Manipulation by Trading Partners
The report explained that a currency peg or intervention -- monetary actions undertaken by some countries in that period -- does not in itself constitute currency manipulation. ... A 2003 study said that China was in fact manipulating its currency for trade advantage in violation of its obligations to the International Monetary Fund and the World Trade Organization. China's exchange rate and industrial policies were hurting U.S. exporters and manufacturers, said the study by the U.S.-China Economic and Security Review Commission. The group was established by Congress to monitor the national security implications of U.S. bilateral trade with China. ... [Read More]
Argentina
Argentina is a federal constitutional democracy with an executive branch headed by an elected president, a bicameral legislature, and a separate judiciary. In 1999 voters elected President Fernando de la Rua in generally free and fair elections. After protests in December 2001, de la Rua resigned and was succeeded briefly by three interim presidents before the Legislative Assembly elected Eduardo Duhalde to serve out the remainder of the de la Rua term. The Constitution provides for an independent judiciary, but judges and judicial staff were inefficient and at times subject to political influence.The President is the constitutional commander-in-chief, and a civilian Defense Minister oversees the armed forces. Several agencies share responsibility for maintaining law and order. The Federal Police (PFA) report to the Ministry of Justice, Security, and Human Rights, as do the Border Police (" ... [Read More]
US Department Of State Post Report
Argentina currency is the peso. The currency is issued in both bills and coins, with the bills in the same denominations as U.S. currency. The value of coins are 1, 5,10, 25, and 50 centavos and 1 peso, although 1 cent coins are rarely used. The floating exchange rate is now approximately 1 peso to $2.75. ... U.S. Government employees and their dependents may purchase Argentine currency or obtain dollars from a bank located at the Embassy that charges a small commission on dollar transactions. U.S. currency is usually available in limited quantities for official purposes, to the extent that Embassy currency holdings permit. It is also possible to use your ATM cards throughout Buenos Aires. ... [Read More]
Argentina (09/04)
A legislative assembly on December 23, 2001, elected Adolfo Rodriguez Saa to serve as President and called for general elections to elect a new president within 3 months. Rodriguez Saa announced immediately that Argentina would default on its international debt obligations, but expressed his commitment to maintain the currency board and the peso's 1-to-1 peg to the dollar. Rodriguez Saa, however, was unable to rally support from within his own party for his administration and this, combined with renewed violence in the Federal Capital, led to his resignation on December 30. Yet another legislative assembly elected Peronist Eduardo Duhalde President on January 1, 2002. Duhalde--differentiating himself from his three predecessors--quickly abandoned the peso's 10-year-old link with the dollar, a move that was followed by currency depreciation and inflation. In the face of rising poverty and continued social unrest, Duhalde also moved to bolster the government's social programs. ... [Read More]
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