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Argentina Doesn’t Plan Multiple Exchange Rates, Fernandez Says

Argentina has no plans to introduce multiple exchange rates, President Cristina Fernandez de Kirchner said, commenting on a report in newspaper El Cronista yesterday.

“Can people really believe this?” Fernandez said last night in a speech in Buenos Aires, according to the presidential website. “It is this president who make decisions and she is totally responsible and predictable.”

Yesterday, newspaper El Cronista reported that deputy Economy Minister Axel Kicillof is studying a plan to apply three different exchange rates to be used by importers, exporters and by the financial system and tourism.

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