Argentina's country risk reached a maximum of 1,417 basis points on Tuesday, reflecting investors' fears about the behavior of the domestic economy and doubts about the international situation of the markets, traders told Reuters.
Argentina’s peso slipped on Tuesday, a day after the central bank’s new governor reassured the public that its approach to taming the country’s rocky economy would be sustainable over the medium term. The peso closed 0.46% weaker at 36.65 per U.S. dollar. The currency has fallen 0.30% against the dollar this week, although it has climbed 12.63% since the beginning of the month.
Argentina’s peso rallied for a third straight day on Wednesday, after high-interest short-term debt issued by the central bank soaked up liquidity, a strategy that has raised concern about the sustainability of the country’s program.