RIO DE JANEIRO, BRAZIL - Argentina's central bank said on Thursday, September 29th, that it would allow a managed float of the peso currency and abandon its current “uniform daily devaluation” strategy as it seeks to adapt its monetary policy amid sharpening economic turmoil.
The move comes when the gap between the official exchange rate and the rate quoted in the country's informal currency markets has grown close to 93% due to the distrust of investors and strong black market demand for dollars.
Among a series of measures, the bank said it would block senior public officials from buying . . .