Argentine peso futures have fallen sharply in recent days, reflecting traders’ growing concerns about the currency’s prospects. According to a Reuters report, market participants are concerned about the potential impact on the peso as the country navigates a challenging financial landscape marked by strong capital controls,

Argentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso.

Central bank to undo a fixed currency peg and let the peso freely fluctuate within a moving band between 1,000 pesos and 1,400 pesos per dollar Argentina is dismantling key parts of its years-long currency controls and loosening its grip on the peso,