April 26, 2018 / 7:09 PM / a year ago

UPDATE 1-Argentine peso weakens to record closing low of 20.55 per U.S. dollar

(Adds Thursday peso weakening and intervention by central bank)

BUENOS AIRES, April 26 (Reuters) - Argentina’s peso currency weakened 1.41 percent to an all-time closing low of 20.55 per U.S. dollar on Thursday, despite massive central bank interventions during the trading session and on Wednesday.

The central bank sold about $1 billion in the foreign exchange market on Thursday, local traders said. The day before it sold $1.472 billion on the local spot market, its largest intervention in currency markets in at least 15 years.

The bank has frequently intervened to prop up the peso in recent months as a weaker currency could spur inflation in a country that has long lived with double-digit increases in consumer prices. It has sold more than $4 billion since March. (Reporting by Walter Bianchi, writing by Hugh Bronstein Editing by Chizu Nomiyama and Lisa Shumaker)

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