Argentina's black market peso hits new low ahead of election -traders
BUENOS AIRES Oct 19 (Reuters) - Argentina's peso weakened to a record low 16.10 per U.S. dollar on the black market on Monday, currency traders said, as investors and savers bet on a devaluation of the country's official rate after a new government takes office in December.
The peso has tumbled more than 21 percent on the black market since early June, weighed down by uncertainty over how the next president would deal with capital controls. Argentines go to the polls on Sunday.
"No one doubts that we will see a devaluation," said one market trader who declined to be identified because he is not authorized to talk to media. "The question is when." (Reporting by Walter Bianchi; Writing by Richard Lough)
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