Argentina's Peso Strengthens as President Milei Pushes Pro-Market Reforms
• Argentina's peso on informal market strengthens over 1.5% against US dollar, breaking below 1,000 per dollar • Comes after President Milei pledged to push pro-market agenda and austerity to curb deficit • Argentina grappling with over 250% inflation and strict capital controls since 2019 • Gap between official and black market exchange rates narrowed from as high as 200% to under 18% in 2023 • Surge in peso spurred by Milei's libertarian, anti-interventionist policy measures