Peso down almost 30% as Argentina lifts capital controls
Capital controls lifted allowing greater access to foreign exchange
Argentina's currency fell by almost 30% against the US dollar during early trading today (December 17), after the new government began the process of lifting the country's capital controls.
Yesterday evening the authorities moved to widen access to foreign exchange and let the peso float more freely. The exchange rate responded by dropping 29% as markets opened, before a slight uptick. It settled at 13.62 pesos per dollar, after starting the day at 9.81.
Prior to the change, Alberto Cavallo
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