US Markets

Argentine peso opens 12.3% weaker after Macri announces emergency economic measures

Credit: REUTERS/MARCOS BRINDICCI

Argentina's peso currency opened 12.3% weaker at 61 per U.S. dollar on Wednesday, minutes after President Mauricio Macri announced a package of measures aimed at providing relief to people hard hit by the country's recession and high inflation.

BUENOS AIRES, Aug 14 (Reuters) - Argentina's peso currency opened 12.3% weaker at 61 per U.S. dollar on Wednesday, minutes after President Mauricio Macri announced a package of measures aimed at providing relief to people hard hit by the country's recession and high inflation.

The local currency has fallen 25.69% since Sunday, when the center-right leader handed in an unexpectedly poor performance in the primary election against his chief Peronist challenger Alberto Fernandez. The primary result reduced the probability of Macri winning a second term in the October general election.

(Reporting by Hugh Bronstein Editing by Chizu Nomiyama)

((hugh.bronstein@thomsonreuters.com; 5411 4318 0655; Reuters Messaging: hugh.bronstein.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

World Markets

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More