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Weekly Report - 09 May 2013 (WR-13-18)

ARGENTINA: ‘Messi’ dollar finally arrives

Long forecast, the black market rate for dollars in Argentina finally broke the psychologically significant ten pesos to the dollar barrier on 6 May. The government insists that the ‘Messi’ dollar, nicknamed after the famous Argentine footballer who wears the number 10 shirt, Lionel Messi, will not force a devaluation despite the fact the black dollar rate is now almost twice the price of the official rate.

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