Dec 12, 2023
Argentina to Target 2% Monthly Devaluation of Peso
Bloomberg News
,(Bloomberg) -- Argentina’s central bank plans to overhaul its crawling peg regime by devaluing the peso 2% per month, according to a senior government official with direct knowledge of the decision.
Economy Minister Luis Caputo announced Tuesday in a televised address that the government was devaluing the peso 54% in the first batch of emergency measures of President Javier Milei’s shock therapy program.
©2023 Bloomberg L.P.