September 2, 2019 / 2:07 PM / a year ago

Argentine peso edges up, but falls on black market after currency controls imposed

BUENOS AIRES, Sept 2 (Reuters) - Argentina's peso edged up in early trading on Monday, but weakened in the black market after the country imposed capital controls on Sunday in a bid to protect the beleaguered currency amid a sharpening debt crisis.

The peso opened up 0.42% stronger at 59 per dollar, but the currency weakened 1.56% in unofficial markets to a record low of 64 pesos per dollar, traders told Reuters, an unusual divergence that reflects investor anxieties over the controls.

The South American country's international dollar and euro-denominated bonds also fell to record lows on Monday while its financial stocks tumbled and risk premiums shot up after the currency controls were imposed.

Reporting by Walter Bianchi; Writing by Adam Jourdan Editing by Nick Zieminski

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