The exchange rate blues

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The exchange rate blues

Enero 2013

The year has started with financial issues taking center stage, as concerns about the evolution of the exchange rate, inflation and credit spreads have taken center stage in the economic debate.

The rapid and large depreciation of the parallel exchange rate has been the dominating financial issue (see section 2).  The spread between the official and the parallel exchange rates has been hovering at around 60%, an issue that has become a concern for its possible effects on inflation, on the values of trade and on economic activity.