The economic crisis in Argentina is damaging its domestic currency to unprecedented levels


The weight of Argentina has reached a record low More than 1% against the US dollar on Friday.

The local currency has been put under pressure by economic uncertainty while Argentina faces economic crises and inflation accelerates ahead of 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 that 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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