BUENOS AIRES Dec 12 Argentina's peso currency
weakened 0.62 percent to an all-time low of 16.1 per
U.S. dollar on Monday as residents of the South American country
sought dollars ahead of year-end holiday vacations, local
foreign exchange brokers said.
President Mauricio Macri took office a year ago after
winning office on a free-markets platform. He allowed the peso
to float on the foreign exchange market, scrapping years of
currency and trade controls that had scared off investors.
Macri promised a wave of foreign direct investment would
enter Argentina during 2016. But it remains low with the economy
stuck in a recession and household purchasing power slammed by
annual inflation expected by economists to end the year at 40
(Reporting by Walter Bianchi Editing by W Simon)