'Argentine peso stumbles on government intervention rumors'

Argentine peso stumbles on government intervention rumors

03/06/09 10:45

Argentina's peso fell to its lowest in six years and stocks tumbled after speculations that the Argentine government will take over the grain trade increased. This has also further fueled the burning conflict between President Cristina Fernandez de Kirchner and the country's rice farmers.

A government official who chose not to be named recently revealed that the government is planning to buy and sell grains before exporting to international markets to ensure that there is adequate supply.

Link: Bloomberg.com: Latin America

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