Argentine peso weakens as investors await IMF deal
Reuters
Published Sep 26, 2018 09:57AM ET
Argentine peso weakens as investors await IMF deal
BUENOS AIRES (Reuters) - Argentina's peso opened weaker on Wednesday as investors awaited details of a revised lending agreement with the International Monetary Fund (IMF) and indication of whether the central bank will intervene less to support the currency.
The peso slipped 0.26 percent in thin early trade to 38.60 to the dollar as investors waited for hints of the direction of monetary policy under new Central Bank governor Guido Sanderlis, who was appointed on Tuesday after his predecessor unexpectedly resigned.
"Traders are waiting to see if the new head of the central bank will continue with market interventions or adopt a freer flotation, more in line with the vision of the IMF," said Gustavo Ber of consultancy Estudio Ber.
Economy Minister Nicolas Dujovne said on Tuesday in New York, where he is attending the United Nations General Assembly, that details of the revised IMF deal were being finalised and should be announced on Wednesday.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.