January 3, 2013 / 3:10 PM / 5 years ago

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

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below