April 16, 2019 / 8:38 PM / a year ago

Argentina to freeze peso trading band until year-end -c. bank head

BUENOS AIRES, April 16 (Reuters) - Argentina will freeze a non-intervention trading band for its peso currency until the end of the year, central bank head Guido Sandleris said during a news conference on Tuesday.

The band, which came into effect last year and previously had gradually depreciated, will be set between 39.75 pesos and 51.45 pesos per U.S. dollar, Sandleris said.

Argentina’s inflation rate accelerated to 4.7 percent in March, data released earlier on Tuesday showed, raising pressure on the country’s leaders to protect the peso, which lost almost half its value against the dollar last year.

Reporting by Eliana Raszewski in Buenos Aires Writing by Adam Jourdan Editing by Matthew Lewis

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