• Short Summary

    INTRODUCTION: The recent rush to sell the Argentine peso on the Buenos Aires stock exchange has cut the value of the nations' currency by 25 per cent.People have been lining-up outside the capital's money houses to off-load bundles of Argentinian currency.Inflation has jumped to 115.5 per cent, a 5.8 per cent rise over the last month alone.

  • Description

    BUENOS AIRES, ARGENTINA (VISNEWS - JORGE CASAL)

    CU Newspaper headlines announcing fall of dollar

    Background: INTRODUCTION: The recent rush to sell the Argentine peso on the Buenos Aires stock exchange has cut the value of the nations' currency by 25 per cent.People have been lining-up outside the capital's money houses to off-load bundles of Argentinian currency.Inflation has jumped to 115.5 per cent, a 5.8 per cent rise over the last month alone.

    SYNOPSIS: The crisis in the Argentine economy has been the top story in the nation's newspapers for months now.At the start of the year, the peso's value of 2,000 to the dollar was seen as an indication of the country's successful economic management.today, more than 11,000 pesos are needed to buy just one dollar.

    This is a run on the currency the likes of which have not been seen since the hyper-inflation days of the 1970's.

    The run on the banks had led to crowds gathering in the streets of the financial district of Buenos Aires, waiting for the latest information on the state of the currency.The country's precarious economy is not helped by a growing unemployment problem.

    While bank trading continues at a frantic pace, the number of jobless has doubled in the last 12 months to almost four per cent of the working population.
    InitialsBB Script is copyright Reuters Limited. All rights reserved

  • Tags

  • Data

    Film ID:
    VLVAAXL26NP7GPVJ1DPS109XVG5KZ
    Media URN:
    VLVAAXL26NP7GPVJ1DPS109XVG5KZ
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    17/11/1981
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:07:00
    Time in/Out:
    /
    Canister:
    N/A

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