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ECONOMIST HOLDS UP EQUIVALENT PESO AND DOLLAR BILLS, 1999-01-19 (photo)

IMAGE number
REU8242896
Image title
ECONOMIST HOLDS UP EQUIVALENT PESO AND DOLLAR BILLS, 1999-01-19 (photo)
Auto-translated text View Original Source
Medium
photograph
Date
1999 AD (C20th AD)
Shooting Date
1999-01-19
Image description

An Argentine economist holds up a $100 bill together with a 100 Argentine peso bill of exactly the same value in the local economy, January 19. Under Argentina's currency board system, the Central Bank can only print as many pesos as it has dollars in reserve. Since Brazil devalued the real currency last week, an increasing number of government officials and economists have suggested the best thing for Argentina would be to get rid of the peso and adopt the U.S. dollar, ending speculation on a possible devaluation. RR/WS

Photo credit
REUTERS / Bridgeman Images
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