Argentinian central bank struggles to stabilise peso ahead of elections

The Central Bank of Argentina
Photo: Javier Pierini

The Central Bank of Argentina (BCRA) is struggling to contain the protracted depreciation of the peso ahead of the first round of the presidential elections on October 27.

The currency touched a record low today (October 25), in spite of the hefty foreign exchange interventions carried out by the BCRA over the last few weeks. Since August 12, the Argentinian peso has depreciated by 24.4% against the US dollar, reaching a new record low of 59.53. The foreign exchange portfolio dwindled from $65

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