The currency of Argentina is falling to a new all-time high


direct: The Argentine currency fell more than 1% against the US dollar on Friday to record the lowest level ever.

The local currency is under pressure with economic uncertainty while Argentina faces economic crises and inflation accelerates before the October presidential election.

The popularity of Argentine investors Mauricio Macri declined after investors were hit by cuts in utility subsidies and other austerity measures he ordered as part of his efforts to reduce the country's fiscal deficit.

According to today's Treasury data, Argentina will face the financial requirement of $ 27.3 billion next year, compared to the previous estimate of $ 25.9 billion.

Official data showed that the Argentine economy shrank last year after a sharp decline in the fourth quarter of 2018.

At 7:35 pm GMT, the Argentine peso fell 1.2% to 43,931 pesos, after hitting an all-time low of 44.124 pesos.



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