Argentina Lifts Currency Controls After 5 Years — New Dollar Band Set at 1,000–1,400 Pesos
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![Argentina Lifts Currency Controls After 5 Years — New Dollar Band Set at 1,000–1,400 Pesos]()
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Argentina's central bank hikes rates to 60% as the currency collapses
Argentina's central bank yanked its benchmark interest rate up to a dizzying 60 per cent in a bid to control rampant inflation as the country's currency plummeted 15.8 per cent to a record low 40.5 pesos per US dollar.
![The Argentine peso crashed to record lows on the news. It saw steep losses in the previous session and collapsed another 15 percent to hit 40 pesos against the U.S. dollar on Thursday morning.]()
