The central bank of Argentina has made yet another adjustment to its reference market rate. This time, the rate was lowered from 70 to 60 percent in light of improved conditions in the domestic economy, including a fiscal surplus and a contraction in inflation. Just two weeks prior, the bank had lowered the rate from 80 to 70 percent due to decreased uncertainty and market consolidation. Since Javier Milei took over as president in December, the rate has decreased a total of four times from 133 percent to 100 percent, then to 80, 70, and now to 60.
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