Argentine peso ends tumultuous 2019 down 37% against the dollar

The Argentine peso chalked up a 37% drop for 2019, closing out a tumultuous year in which the currency has plummeted 63.6% against the dollar amid rising debt default fears, rampant inflation and domestic recession. After major losses from earlier in the year were capped by currency controls, the peso closed down 0.13 on Monday at 59.91 per dollar. Argentina’s over-the-counter bonds, however, have recovered slightly, and rose 8.5% on average in December, though they were still down 21% for the year.

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Source: Reuters