Argentina Disputes Peso Crossed Threshold, Citing Technicality

Argentina’s central bank disputed that the peso had crossed the threshold for its trading band Wednesday, saying its calculation of the figure is slightly different from the number based on a publicly disclosed formula.

The bands set by Argentine officials in an agreement with the International Monetary Fund in April gradually expand at a 1% monthly increase in the floor and ceiling, broken evenly into daily increments. Using that math, the peso exceeded the 1,474.345 upper limit Wednesday when it traded at 1,474.5 to the dollar.