Milei Moves Argentina Toward Bond Market Return With Peso Pivot
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Argentina moved closer to a return to international debt markets by addressing two key issues that have concerned investors: an overvalued peso and a shortage of hard-currency reserves.The nation’s central bank said Monday it will begin to gradually unwind the tight grip it keeps on the currency. Starting in January, it will let it trade within a range that expands in line with inflation — effectively moving to a pace of about 2.5% a month, from a current 1%. Officials also said they’re going to start slowly buying up dollars to build back the central bank’s depleted cash stockpile without jolting the currency too much.