The newly minted government of Argentine President Maurcio Marci is bringing in its much anticipated market friendly administration with a bang. After lifting the nation’s currency controls yesterday, freeing once tightly controlled limits on buying U.S. dollars and allowing its peso to trade on an open market, the result was a dramatic yet expected drop in the currency’s value. But perhaps most interesting is how Argentina's free-market advocate Finance Minister Alfonso Prat-Gay made an accurate estimate as to its likely revised value and how this new face of finance in the region manages going forward.
With pinpoint accuracy Argentine Finance Minister Gay nails peso valuation
The Argentine peso had...
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