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Argentines Bet Against UBS Peso Plunge Call as CDs Jump to 16-Month High
Bloomberg
July 20, 2010

Argentines are pouring the most money into peso-denominated certificates of deposit in at least 16 months as a bet the currency is unlikely to fall as fast as Barclays Plc and UBS AG are predicting.

Peso certificates of deposit climbed 3.7 percent in June to 117.2 billion pesos ($29.8 billion), the highest since in at least April 2009, while all dollar-denominated accounts declined 3 percent to $15.7 billion, according to the central bank. CDs accounted for 47 percent of all peso deposits.

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