Argentina’s peso continues to drop relative to the U.S. Dollar.

The central bank said in its daily e-mail statement that it last bought dollars on Sept. 23, when reserves reached a record $51.3 billion.

Last week President Fernandez nominated Marco del Pont, who backed the government’s use of $6.6 billion in international reserves to pay debt this year, to remain in her post after it was set to expire Sept. 23. Economy Minister Amado Boudou presented lawmakers with a plan on Sept. 16 to tap another $7.5 billion in reserves to make debt payments next year.

With the recent credit rating agency upgrades, Argentina is looking for rates under 8%. What is your credit card rate and do you think you are less or more a default risk than Argentina?

Quantitative easing will benefit all the emerging markets ESPECIALLY Argentina. What else can the world do with cheap dollars? Ok maybe the U.S. is headed for a Japan style deflation scenario.

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