Word: pesos
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...When the trade deficit kept getting worse and capital showed signs of taking flight northward, officials decided that they could not wait for this summer's expected bumper cotton and coffee crops to save the situation. Last week the government abruptly announced a devaluation of the Mexican peso-from 8.65 to 12.50 to the dollar...
Already, Perón's deflationary policy has driven the value of the peso on the black market from 30 to the dollar at the first of the year to 19 last week. By making Argentine business go through the wringer, Perón apparently hopes to 1) drive workers back to the land, where they are badly needed. 2) cut demand for imported goods and thus ease the foreign-exchange problem. 3) force more widespread price cuts and 4) drive more marginal operators into bankruptcy. Still cheerful and cocky, Peron promised never to help dealers by relaxing...
...poor, with nothing like Argentina's rich pampas. Until next year's congressional elections, the new leader is expected to move cautiously. But trouble is due for Chile, and it may not wait. "Ibanez has promised the people a six-foot loaf of bread for a peso," said a Santiago lawyer last week. "When the people find out that he can't deliver it, he's going to have to use a club instead of the loaf." Few doubt that The Horse will be ready to swing the club...
...been in jail, the woman began to cry. Perón said: "After all, what can a man out of work and with five children be but a thief?" Reaching into a drawer, he pulled out a fistful of banknotes. He gave the woman 2,000 pesos ($141), plus 500 pesos for each child and a 350-peso check to pay the rent, and promised to find jobs for both her and her husband...
...March 15. Country Rate Austria (Schilling) 25.83 Belgium (B. Franc) 50 Canada (C. Dollar) par Denmark (Krone) 6.89 Egypt (Pound) 2.89 England (Pound) 2.80 Finland (Mark) 232 France (Fr. Franc) 350 Germany (Mark) 4.20 Holland (Florin) 3.84 India (Rupee) 4.76 Ireland (Pound) 2.80 Italy (Lira) 624 Mexico (Peso) .1160 Norway (Krone) 7.14 Portugal (Escudo) 28.50 So. Africa (Pound) 2.82 Spain (Peseta) 39.00 Sweden (Krona) 5.13 Switzerland (S. Franc) 4.37 Turkey (Livre...