Argentina’s peso is tumbling as Argentines rush to exchange pesos for dollars ahead of presidential elections later this month, posting its worst losses since an August selloff. The nation’s parallel exchange rate, known locally as the blue-chip swap, has tumbled as much as 12.6% this week on parallel exchanges to a record 900 pesos per dollar, bringing the gap between the official and parallel exchange rates to around 157%, the highest since July 2022. It’s the sharpest drop in the parallel rate since the government devalued the official rate it controls following the Aug. 13 primary election. Argentines are ... (full story)