Argentine Peso Falls to Record for Second Day After IMF Accord
- Currency posts biggest slide among emerging market peers
- Government, IMF agreed to $50 billion credit line Thursday
Photographer: Diego Giudice/Bloomberg
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The Argentine peso extended losses Monday, sharply selling off as the trading day came to a close, to lead declines among emerging market currencies battered by a flight to safety.
The currency fell 2.7 percent to 26.00 per dollar in Buenos Aires from 25.31 per dollar Friday. It was the second straight day of losses for the peso since Argentina’s government announced that it will receive a $50 billion credit line from the International Monetary Fund, the largest deal in the Fund’s history.