Argentine devaluation hits Latin bonds

Jan 27, 2014

Investors in Latin bonds and currencies were nursing their wounds Friday while bracing for more pain following a sharp market sell-off triggered in part by an abrupt fall in the Argentine peso. The currency on Thursday suffered its sharpest fall since 2002, touching ARS8.2 per dollar from ARS6.9 earlier in the day. By Friday afternoon it was trading at close to ARS8 per dollar. The peso returned from...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management