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emerging market

In Argentina, Financial Risks Deepen Along With Investor Jitters

emerging market
Argentina's debt sank deeper into distressed territory on Friday.

KONTAN.CO.ID - BUENOS AIRES. Argentina's debt sank deeper into distressed territory on Friday, in just the latest week of sour financial news led by a battered currency, highlighting growing doubts about the near-term prospects for Latin America's third biggest economy.

The peso currency hit fresh record lows this week on a daily basis, trading in the parallel black market at nearly 350 per U.S. dollar on Friday, down nearly 4% from the previous day, according to private traders.

So-called over-the-counter sovereign debt slipped 1.1% overall on Friday, fueled by persistent investor doubts, even as yields for the benchmark Bonar 2030 bond exceeded 40% after its value tumbled 2.1%.

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