The Argentine parallel peso strengthened against the U.S. dollar following new economic measures introduced by President Javier Milei’s government, while the local stock market experienced a decline. The government outlined a plan to halt the expansion of the monetary base to combat inflation, and announced a $1.5 billion purchase from the central bank to pay bond interest due in January. The peso appreciated by 6.01% at 1,415 pesos per dollar, with the gap between the black market “blue” exchange rate and the official rate narrowing to 53% after reaching around 60% the previous week.
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