The Argentine Peso’s exchange rate to the Dollar is a reliable sensor for political rick. According to the country’s Central Bank today, the month period before the early August PASO elections saw historic record demand for dollars from rank and file Argentines which in turn weakened the Peso significantly.
When the PASO primary election results came out and Macri’s government did generally better than expected the Peso snapped back sharply, but the nerves are obviously still there as we count down to the big event, the October 22nd mid-term elections. The Peso can’t go under the 17 barrier however much it tries.