Argentine peso loses 30 percent of value after controls lifted

December 17, 2015
2 Comments

BUENOS AIRES, Argentina — The Argentine peso lost 30 percent of its value on Thursday after the new pro-business government scrapped the foreign exchange restrictions introduced by its leftist predecessors.

At the close of trading on the first day without the currency limits, dollars were changing hands for 14 pesos, more than 42 percent higher than the closing rate on Wednesday.

New pro-business President Mauricio Macri, who took office promising deep reforms for Latin America’s third largest economy, had announced the move Wednesday.

Economists warned the country faces a rough adjustment.

You may be interested

Therapeutic abortion, part II: paper vs. practice
Therapeutic Abortion
212 views
Therapeutic Abortion
212 views

Therapeutic abortion, part II: paper vs. practice

Paula Umaña - February 22, 2018

Part II of a three-part series published in English at The Tico Times by permission of journalism student Paula Umaña;…

Costa Rican scientists discover new bacteria
Science & Tech
316 views
Science & Tech
316 views

Costa Rican scientists discover new bacteria

Katherine Stanley - February 22, 2018

You know you've made it when you've got a strain of Listeria named after you. "Listeria costaricensis" is the official…

Panama firm pleads guilty in FIFA corruption scandal
FIFA
291 views
FIFA
291 views

Panama firm pleads guilty in FIFA corruption scandal

AFP - February 22, 2018

NEW YORK – A Panamanian company that imports and exports soccer uniforms pleaded guilty on Wednesday in New York to…