National Congress of Argentina sessions span is from March 1 to November 30; the President of Argentina is entitled to convene extraordinary sessions during the recess, if needed. Senators and deputies enjoy parliamentary immunity during their mandates, which may be revoked by their peers if a senator or deputy is caught "in flagrante", in the midst of committing a crime. The Congress is in charge of setting taxes and customs, which must be uniform across the country. It rules the Central Bank of Argentina, manages internal and external debt payment, and the value of national currency (currently the Argentine peso). It rules the legal
Currency overlay is generally increased by adding currency exposure, yet there is no risk premium earned for that added volatility in the long term. Thus investors with international portfolios often hedge their currency risk, normally using forward currency contracts, currency swaps, currency futures contracts, or currency options. Currency hedging can be done passively or actively. The stream of returns from passive currency overlay is negatively correlated with international equities, has an expected return of zero, and does not employ any capital. The overlay manager uses forward contracts to match the portfolio’s currency exposures in such a way as to insure against exchange