Argentine Peso Collapses 29% After Government Lifts Currency Controls
by Tyler Durden
ZeroHedge.com
12/17/2015
For those interested in a case study of what happens after a dramatic devaluation, you now have front row seats for what is likely to be a 25-30% peso plunge. Grab the popcorn.
That’s what we said on Wednesday evening in “Prepare For Peso Plunge: Argentina Lifts Currency Controls,” after the country’s FinMin Alfonso Prat-Gay announced that, as promised, new President Mauricio Macri would move to unify the official and black market exchange rates in the face of depleted FX reserves and still sky high inflation.
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