August 14, 2019 / 1:27 PM / 4 months ago

Argentine peso opens 12.3% weaker after Macri announces emergency economic measures

BUENOS AIRES, Aug 14 (Reuters) - Argentina’s peso currency opened 12.3% weaker at 61 per U.S. dollar on Wednesday, minutes after President Mauricio Macri announced a package of measures aimed at providing relief to people hard hit by the country’s recession and high inflation.

The local currency has fallen 25.69% since Sunday, when the center-right leader handed in an unexpectedly poor performance in the primary election against his chief Peronist challenger Alberto Fernandez. The primary result reduced the probability of Macri winning a second term in the October general election.

Reporting by Hugh Bronstein Editing by Chizu Nomiyama

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