BUENOS AIRES: Argentina’s peso closed stronger on Wednesday, finishing a month of gains after the government’s International Monetary Fund-backed monetary policy helped stabilize the currency, traders said.
The peso closed 2.20 percent stronger at 35.95 per US dollar, gaining 14.88 percent in October. The battered peso has depreciated 48.12 percent this year.
The peso’s price against the dollar ended the month at its strongest level since August, according to Gustavo Quintana, a trader at local firm PR Corredores de Cambio.
“The dollar ended today with a clear selling trend,” Quintana said.
Argentina’s central bank sold 154.492 billion pesos ($4.297 billion) worth of seven-day Leliq notes, traders said.
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Source: Brecorder
