November 26, 2018 / 7:36 PM / 23 days ago

UPDATE 1-Argentina's peso slips to two-month low ahead of G20 summit

(Adds background, context and Leliq auction)

BUENOS AIRES, Nov 26 (Reuters) - Argentina’s peso currency slid to its lowest level in two months on Monday, just days before the country is scheduled to host the high-profile Group of 20 summit.

The peso closed 3.33 percent weaker at 39.00 per U.S. dollar, traders said. It was the sharpest drop since the central bank adopted a new IMF-backed monetary policy in October.

The policy, which established a currency trading band for the peso and limits growth in money supply, had largely stabilized the currency, which has lost around half its value so far in 2018.

Argentina’s central bank also sold 134.6 billion (some $3.5 billion) in short-term central bank notes, known as “Leliq,” at an average annual interest rate of 61.237 percent, traders said. (Reporting by Scott Squires and Walter Bianchi; Editing by Dan Grebler and Tom Brown)

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