Argentina black market peso back under 1,000 as Milei measures spur markets

Argentina's peso on the parallel informal market strengthened more than 1.5% against the U.S. dollar around midday on Wednesday, breaking back below the 1,000 to dollar mark and reaching its strongest level since the end of December.

The surge comes after President Javier Milei announced on Friday he would not back down from pushing his libertarian policies and will send a fresh set of measures to Congress for approval.