Peso rallies as Argentina readies IMF debt restructure

World News: . []

Peso rallies as Argentina readies IMF debt restructureArgentina's central bank intervened Thursday to shore up the country's beleaguered currency after the government asked the International Monetary Fund to restructure a $57 billion bail-out loan agreed last year. The peso was worth 62.33 to the dollar in early trading -- 3.5 percent lower than at Wednesday's close -- before the Central Bank of Argentina acted, shelling out around $200 million to bolster the currency. Center-right President Mauricio Macri had called on investors for calm ahead of the opening of the markets Thursday.


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