June 19, 2018 / 1:25 PM / 3 months ago

Argentine peso opens up after cenbank's first post-market auction

BUENOS AIRES, June 19 (Reuters) - Argentina’s peso opened up 0.2 percent at 27.65 per U.S. dollar on Tuesday, following a sharp day of gains yesterday as new central bank Governor Luis Caputo seeks to stabilize the currency, which has lost nearly 10 percent so far in June.

A run on the peso has prompted Argentina to turn to the International Monetary Fund for financing. The central bank sold $175 million in reserves on Monday after the market closed in a new market intervention strategy. It was expected to host a similar auction once the market closes today. (Reporting by Jorge Otaola and Hernan Nessi Writing by Luc Cohen Editing by Chizu Nomiyama)

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