Argentine Short-Term Rates Dip as Government Lets Peso Weaken

Argentine short-term interest rates dipped on Thursday as the government allowed the peso to weaken on the spot market for the first time this week.

• The yield on Lecap notes due on Nov. 28 slid to 87% from 89% at the close of trading Wednesday, according to calculations used by Bloomberg
  • Bloomberg takes the real annual rate, while the local market focuses on the nominal rate, traders said
• Using the methodology favored in the local market, the yield fell to as low as 62% Thursday, according to two people who declined to be named
• The peso dropped as much as ...