Economics
Argentine Peso Strengthens After Government Moved to Calm Nerves
- Consumer prices rose 55 percent in March from the year earlier
- Government freezes prices; central bank adjusts currency band
Photographer: Diego Giudice/Bloomberg
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The Argentine peso gained Wednesday as the government and the central bank announced measures to control inflation after prices rose more than expected in March for the third consecutive month.
The peso climbed as much as 2.3 percent before paring gains to finish trading up 1.1 percent at 41.9 per dollar. Some investors saw the announcements as boosting President Mauricio Macri’s chances of re-election this year. Still, the yields on Argentine bonds due 2028 rose 13 basis points to 10.6 percent.