The country, once envied by the Chinese, has been badly messed up by the dollar pit.

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 The country, once envied by the Chinese, has been badly messed up by the dollar pit.


Among them, the most panic was the Argentina peso, which fell 7.8% to the dollar in one day on Thursday, the biggest one-day drop in three years, leading the Argentina monetary authority to raise interest rates for three consecutive days in eight days to prevent large capital flight. At present, the base interest rate in Argentina has reached an alarming 40%, making it difficult for domestic people and enterprises to bear it. However, the Central Bank of Argentina still has no choice but to raise interest rates to prevent the collapse of the exchange rate from its desperate decision. To cope with the currency crisis this year, Argentinas monetary authority has spent 10% of its foreign exchange reserves. Outside Argentina, the currencies of emerging economies such as Mexico, Russia, Turkey and Brazil have begun to fluctuate dramatically. Even in Hongkong, a developed economy, the Hong Kong dollar also hit a 33 year low, forcing the monetary authorities to throw $6 billion 500 million in total for 13 times to stabilize the Hong Kong dollar. But the collapse of the peso crash in Argentina is panic. If we do not stop it, the consequences will be unthinkable. The worlds richest country, which was juxtaposed with the United States 100 years ago, has fallen from developed countries to developing countries. This unique phenomenon is known as the Argentina fan. Today, the Argentina industry is single, the inflation is deteriorating, and the annual huge deficit, but the free exchange system of foreign exchange and the free import of international capital can make Argentina appear extremely fragile in the international financial turmoil. Argentina Peso to the dollar trend The rise in the dollar and US debt yields has caused investors to escape from emerging economies, and even Latin American economists say, the real surprise is that things come so quickly and suddenly. Argentinas central bank, which acts as a fire extinguisher, has done its best to make Argentinas peso up 5.12% on Friday, but the future of the peso is still worrying after a desperate increase in interest rates. Because US bond yields and rising interest rates continue to strengthen expectations, will support further strengthening of the dollar, the future of Argentina is still very dangerous. Huge foreign exchange reserves, appropriate foreign exchange control and strong economic foundation are particularly important at this time. For China, the nineteen major reporting requirements are to resolutely tackle the three major battle to prevent and resolve major risks, eliminate poverty accurately and prevent pollution. The central economic work conference stressed once again that the key to prevent and resolve major risks is to prevent and control financial risks. China has a sober sense of financial risks. Haitong Securities in the research report that the domestic asset bubble will also be affected by the US interest rate increase, and the future should be unswervingly leveraged, supplement the short board, relying on innovation and development for a long time in an invincible position. The source of this article: Global Times - global network. More brilliant, please log on to World Wide Web http://www.huanqiu.com editor: Cheng Gang _NN7377 The rise in the dollar and US debt yields has caused investors to escape from emerging economies, and even Latin American economists say, the real surprise is that things come so quickly and suddenly. Argentinas central bank, which acts as a fire extinguisher, has done its best to make Argentinas peso up 5.12% on Friday, but the future of the peso is still worrying after a desperate increase in interest rates. Because US bond yields and rising interest rates continue to strengthen expectations, will support further strengthening of the dollar, the future of Argentina is still very dangerous. Huge foreign exchange reserves, appropriate foreign exchange control and strong economic foundation are particularly important at this time. For China, the nineteen major reporting requirements are to resolutely tackle the three major battle to prevent and resolve major risks, eliminate poverty accurately and prevent pollution. The central economic work conference stressed once again that the key to prevent and resolve major risks is to prevent and control financial risks. China has a sober sense of financial risks. Haitong Securities in the research report that the domestic asset bubble will also be affected by the US interest rate increase, and the future should be unswervingly leveraged, supplement the short board, relying on innovation and development for a long time in an invincible position.