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Argentina Plans Aggressive Defense of Peso Starting Monday

  • Newspapers Clarin and La Nacion both cite government sources
  • Cristina Fernandez blasts Macri administration economic policy
A 100 Argentine peso note

Photographer: Diego Giudice/Bloomberg

Updated on

Argentina’s government has asked the central bank to start an aggressive new defense of the peso on Monday after the currency fell 26% in August, driving the country closer to default.

The peso collapsed after primary election results showed the market-friendly government has little chance of retaining power in October’s polls, raising concerns among investors of an impending default and pushing Argentinians to seek the safety of hard currency.