October 5, 2018 / 1:22 PM / 6 months ago

Argentina peso stable as market holds its breath on regional developments

BUENOS AIRES, Oct 5 (Reuters) - Argentina’s peso remained relatively stable at the open on Friday, slipping just 0.13 percent to 38.45 per dollar as emerging market investors shifted attention to other currencies and political developments in the region, traders said.

The Argentine peso has gained 7.41 percent overall this week, bolstered by high-interest short-term debt issuance by the Central Bank at rates surpassing 70 percent, which have mopped up liquidity in the South American country’s volatile currency market. (Reporting by Walter Bianchi, Writing by Scott Squires Editing by Daniel Flynn)

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