1. Argentine peso call rates fell for a second day as rising central bank reserves and bank deposits helped boost money market funds. 2. Argentine pesos are equal to U.S. dollars. 3. Covertibility, the plan implemented by former Economy Minister Domingo Cavallo, pegs the Argentine peso to the U.S. dollar. 4. Dornbusch said the Argentine peso should be devalued. 5. During a decade in office, Menem sold off state-owned companies and yoked the Argentine peso to the American dollar at a rate of one to one. 6. Essentially, the government has pegged the Argentine peso to the U.S. dollar and promised that anyone can exchange pesos for an equivalent number of dollars. 7. Even when funds buy nondollar bonds, the currencies -- Argentine peso, Thai baht -- are often pegged to the dollar. 8. For more than a decade, one Argentine peso equaled one U.S. dollar. 9. For more than a decade, Juan Carlos Meluso and his wife, Silvia Cataldo, awoke each morning knowing that one Argentine peso was worth one American dollar. 10. In March, there was talk of devaluing the Argentine peso, which is pegged to the dollar. |