FXNEWS-Black market Argentine peso knockin' on 7s door

Thu Jan 3, 2013 10:06am EST

Related News

Argentina's peso slid 1.71 percent on the parallel or black market to 7.01/7.03 per dollar, pushed to a new all-time weak point by confidence-sapping currency control and demand for dollars as Argentines take off for their summer holidays, traders said.

The peso was unchanged in official, interbank trade at 4.9225/4.925. The breach between the two rates has widened to 42.5 percent as average Argentines register their lack of confidence in the local currency.

In the so-called blue-chip swap market, which reflects the implied exchange rate used to buy Argentine shares or bonds that can be sold for dollars overseas, the peso was at 6.98 per greenback.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.