Argentina’s peso opened down 54.24 percent at 801 per dollar on Wednesday, following a devaluation of the currency carried out by the country’s new government as part of its economic shock therapy aimed at fixing the economy.
New Economy Minister Luis Caputo said the plan would be painful in the short-term but was needed to cut the fiscal deficit and bring down triple-digit inflation, as he unveiled a package of measures after libertarian President Javier Milei took office on Sunday.
