Since President Kirchner unleashed her ‘cramdown’ plan for Argentinian debt, the Peso has collapsed at the fastest pace since January’s devaluation. The ‘official’ Peso prices has collapsed 1.3% in the last 2 day to 8.39 per USD – and Argentina’s debt yields have surged (prices tumbled) but the black-market Blue-Dolar price has exploded to an all-time low at 13.8 per USD, implying massive devaluation is coming.
The official Peso rate just hit record lows and is accelerating rapidly…
The Dolar-Blue has imploded at 13.8 – record lows…
and bonds are starting to reflect devaluation fears…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1nfv7Rg Tyler Durden