Argentina President Ditches Dollars to Save in Pesos
President Cristina Fernández de Kirchner. (Photo: Presidency of Argentina/Wikipedia)
Argentine President Cristina Fernández de Kirchner announced this week that she is converting her personal savings account from US dollars to Argentine pesos.
She hopes others will follow her example.
Many Argentines prefer to convert their pesos into dollars, to protect themselves from inflation or possible currency devaluations. But that triggers capital flight from the country, complicating the government’s efforts to repay Argentina’s foreign debt.
Anchor Marco Werman finds out more from the BBC’s Vladimir Hernandez in Buenos Aires.
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