August 13, 2014 / 6:54 PM / 3 years ago

Argentina's peso hits record low on black market -traders

BUENOS AIRES, Aug 13 (Reuters) - Argentina’s peso fell more than 1.5 percent on Wednesday to strike a record low of 13.15 per dollar on the black market, traders said, as hopes faded for a swift end to the country’s latest debt default.

Tough capital controls on foreign exchange mean most Argentines buy dollars on the black market, known locally as the “Blue” and which is widely seen as a truer rate of exchange than the official rate of 8.2750 per greenback.

Reporting by Walter Bianchi; Writing by Richard Lough; Editing by Hugh Bronstein and Meredith Mazzilli

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