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EMERGING MARKETS-Argentina markets crash as Macri’s re-election chances drop

08.12.2019 · Posted in Business News Article
Argentine stocks and the peso plummeted 30% on Monday as fears of a possible return to interventionist policies gripped after conservationist President Mauricio Macri lost by a much wider-than-expected margin to opposition in presidential primaries. The peso recovered some to trade at 52.15 per dollar, after having fallen to an all-time low of 61.99, as the central bank used $50 million in its own reserves to defend the peso.

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