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News Link • Argentina

Argentine Peso Collapses To New Low Despite Massive Intervention

• by Tyler Durden

The Argentine Central Bank spent over $1 billion buying pesos on Friday (and another billion to buy short-term bonds back) to support the collapsing currency...

But... the weekend appears to have provided no confidence improvement for investors who are wary of this week's maturing bills (traders see Tuesday as key day for the BCRA, when it is scheduled to faces maturity of ARS673mm in Lebacs) and the potential delays of any IMF bailout...

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