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IPFS News Link • Argentina

Aregntina Hikes Rates To 65% As Peso Plunges To New Record Low

•, by Tyler Durden

The new record low is now 41.54/USD...

While not 'allowed' to intervene directly until 44/USD, Bloomberg reports that Argentina just hiked its Leliq rate to 65%.

The sharp drop follows Thursday's 2.8% decline and comes despite the IMF agreeing on Wednesday to increase its bailout package to the Latin American country by an extra $7.1bn.

Paging Christine Lagarde...