Argentine bonds dip, black market peso breaks away further from spot rate

BUENOS AIRES - Argentina’s bonds dipped on Friday while the trading price of the peso in the black market veered further away from the official spot rate after the government rolled out additional currency controls earlier this week.

The country’s over-the-counter bonds dipped 2.5% while currency trades in the unofficial parallel market saw the peso dip more than 2.44% to 61.5 per U.S. dollar. That took it to almost 10% away from the official rate of 56.15 per greenback. The black market dollar trade in Argentina has reignited since a shock primary election defeat for President Mauricio Macri in August sparked a market sell-off and prompted the government to roll out capital controls to protect the peso.

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