Argentina braces for FX chaos
MARKET NEWS
BUENOS AIRES -- Latin American FX traders are in for a rough ride when the Argentine currency market re-opens today (Monday February 11).
The Argentine government last week decided to erase the dollar from the nation’s crippled economy, and fully float the peso. The peg of 1:1 with the dollar had been in existence for over 10 years, and the peso was devalued to 1.40 to the dollar following Argentina’s debt default in January. However, local FX markets remained closed last week as the government
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