BUENOS AIRES, Dec 17 (Reuters) - Argentina’s central bank did not intervene in the currency market during the first day of trading after it let the peso float freely, the monetary authority said in a statement on Thursday.
Argentina’s peso closed at 13.38 per U.S. dollar on Thursday, down 26.55 percent after the government announced it was lifting currency controls and allowing the currency to weaken.
New President Mauricio Macri, a free markets advocate, has vowed to reduce state intervention in Latin America’s third largest economy. His predecessor Cristina Fernandez had used central bank reserves to prop up the peso at an artificially inflated rate. (Reporting by Sarah Marsh and Jorge Otaola; Editing by Diane Craft)