Argentina to devalue Peso by 18% to 350 per dollar
Argentina will devalue the official peso exchange rate to 350 per dollar, about 18% weaker from Friday’s closing price, a central bank official said Monday.
The central bank will also hike the key interest rate to 118% from the current 97%, the official added.
The changes come after libertarian candidate Javier Milei won a key primary election on Sunday.
