BUENOS AIRES, March 27 (Reuters) - Argentina’s peso weakened 1.73 percent on Wednesday to a new all-time low of 43.4 per U.S. dollar, as concern about inflation, recession and October’s presidential election once again bit into market confidence in Latin America’s No. 3 economy.
The local currency hit a record low close of 42.65 per greenback on Tuesday. Investors have been rattled by Argentina’s inability to contain consumer prices, which are rising at a rate of more than 50 percent per year while benchmark interest rates gallop along at more than 66 percent.
Reporting by Hugh Bronstein Editing by Chizu Nomiyama