Exchange Rate December 29th (morning), Banco Santa Cruz:
for 1 US-Dollar you receive 34,00 Pesos;
for 1 Euro you receive 39,50 Pesos.
Possible reason: The Worldbank do not pay USD 150 milions this year, because the payments (subsidies) of the government to the electricity sector are higher than in 2004. IMF and Worldbank want to stop the subsidies.
for 1 US-Dollar you receive 34,00 Pesos;
for 1 Euro you receive 39,50 Pesos.
Possible reason: The Worldbank do not pay USD 150 milions this year, because the payments (subsidies) of the government to the electricity sector are higher than in 2004. IMF and Worldbank want to stop the subsidies.