Economics
Argentina Bonds Fall, Peso Gains as Capital Controls Implemented
- Euro-denominated notes due in 2028 dropped to 35 cents
- Country announced capital controls to halt FX reserves decline
Photographer: Erica Canepa/Bloomberg
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Argentina’s Eurobonds fell and the peso rallied on little volume as investors adapted to the first day of trading under newly imposed capital controls.
The euro-denominated notes due in 2028 slid 2% to 35.378 cents, while the ones due in 2033 were traded at 37 cents. Amid shallow liquidity, the peso strengthened 6.9% to 56 per dollar on trading that will settle on Tuesday once U.S. markets reopen following the labor day holiday.