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Argentine bond prices hit record lows on Monday after the country imposed capital controls to stem a currency rout. The official peso closed 0.88% stronger, while the black-market rate weakened 0.79% to 63.5 per dollar.
The gap between the two rates pointed to a loss of trust in the official price.
The split between official and black-market rates signals that the controls are not restoring confidence, which keeps Argentine export and farm-sector flows uncertain. Default risk and currency instability raise the cost of Argentine supply.
reuters.comHugh Bronstein, Eliana RaszewskiSep 2, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
