Argentine peso falls more than 1 pct in unofficial trade
BUENOS AIRES May 21 (Reuters) - Argentina's black market peso currency weakened on Wednesday to lows not seen since February as businesses and individuals sought dollars amid uncertainty about economic policy in the inflation-racked South American country.
Plagued by consumer price rises of more than 30 percent per year, according to private estimates, and reports in the local press about disagreements among top policymakers, Argentines sought refuge in the U.S. dollar, local market sources said.
The government has denied any serious internal disagreements on the policy front.
The peso fell 1.01 percent to 11.89 per greenback in early afternoon trade, racking up 12 percent losses so far this month, while the official peso/dollar rate remained stable at 8.0625. (Reporting by Walter Bianchi; Editing by Chizu Nomiyama)
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video