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International Business Times
International Business Times
Business

Argentine Peso Depreciates After Exchange Controls Lifted

Javier Milei Argentina Buenos Aires United States International Monetary Fund US Dollar
Argentina has received a $20 billion loan from the IMF (Credit: AFP)

Argentina's currency dropped 8.4 percent against the US dollar as markets opened in Buenos Aires Monday, after the partial lifting of exchange controls in place for six years.

The rate settled at 1,190 pesos to the dollar, according to state-owned Banco Nacion, well within the floating band of 1,000 to 1,400 pesos to the dollar set by Argentine authorities Friday.

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