Argentina vows to battle black market peso slide towards 500 per dollar

Argentine one hundred peso bills are displayed in this picture illustration taken September 3, 2019. REUTERS/Agustin Marcarian/Illustration

The 7% plunge on Tuesday followed Monday's 4.6% daily decline, already the largest in nine months. The gap between the black and official rates of some 124% is the widest since last July, which warps prices and further fans high inflation.

"I'd be very surprised if this government devalues the official exchange rate before the presidential election, but it's probably one of the first things the next government will do."

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