Argentina's black market peso slides as libertarian candidate wins presidential election
Argentina's black market peso fell by almost 10% to over 1,000 per dollar after the country's presidential election was won by a libertarian who favours dollarisation. The local SP Merval stock index was up 20%, led by a near 40% surge in the shares of state energy firm YPF, catching up with a sharp rise in its US-listed stock which had traded a day earlier, on hints by the new president he could privatise the company. Milei's dollar plans put pressure on the embattled peso currency, which is held in check by strict capital controls. International bonds were climbing on Tuesday for a second straight day, marking gains of as much as 0.6 cents with issues being bid between 29-34 cents.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US stocks head into holiday week with history on their side
Let’s take a look at how US equities typically perform this time of year and what we might see in the coming days
Cardano implements first ZK smart contract
Share link:In this post: Cardano has deployed its first zero-knowledge smart contract on the mainnet through the use of the Halo 2 zkSNARKs. The technology allows for secure and private verification of computations with the help of the network without disclosing sensitive information. ADA recently crossed the $1 level and went as high as $1.15 before a 17% drop.
Investors Flock to UltraShort Bitcoin ETF as Post-Trump Rally Cools
Senator suggests how D.O.G.E. can save $2 Trillion of American Tax Payers