In recent news, Argentina’s central bank has decreased its reference market rate from 70 to 60 percent. This decision was made after a previous reduction two weeks ago, where the rate was lowered from 80 to 70 percent. The central bank cited an improved domestic economy with a fiscal surplus and decreased inflation as reasons for this rate cut. Since Javier Milei took over as president in December, the rate has dropped four times from 133 percent to its current 60 percent.
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