IPFS News Link • Argentina
Aregntina Hikes Rates To 65% As Peso Plunges To New Record Low
• https://www.zerohedge.com, by Tyler DurdenThe 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...