| Argentina's currency just plunged by 30%. But don't panic. It's all part of new President Mauricio Macri's larger plan to revive the country's troubled economy and encourage international trade. Argentina's newly installed government announced Wednesday that it was removing strict currency controls that had been in place for the past four years under former president Cristina Fernandez de Kirchner.
That means the currency will no longer be pegged to a level around 9.8 pesos per U.S. dollar. It was trading around 14 pesos per dollar early Thursday, a level previously seen only in the black market...............................................Full Article: Source
|