General World News

Concern Over Macri Future Hits Argentina Markets Again, Peso Down 4%

A woman walks past a currency exchange board in Buenos Aires, Argentina, Aug. 12, 2019.

Argentina’s peso closed weaker again on Tuesday following a second day of market turmoil triggered by opposition candidate Alberto Fernandez’s landslide victory in a primary election that dealt a severe blow to President Mauricio Macri’s re-election chances.

The peso closed 4.29% lower at 55.9 per U.S. dollar after touching 59 to the dollar earlier. The currency had hit an all-time low on Monday of 65 to the dollar, a drop of 30%, on fears that a Fernandez government could take Argentina back to interventionist economic policies.

The central bank has sold a total $255 million of its own reserves since Monday in read more >>>

Source:: VOANews.Com