April 30, 2019 / 3:00 PM / 3 months ago

UPDATE 2-Argentina's peso rises even as strike hobbles public services

(Updates peso level)

BUENOS AIRES, April 30 (Reuters) - Argentina’s embattled peso currency gained briefly against the dollar on Tuesday after the central bank announced measures aimed at controlling volatility of the currency amid a grinding recession.

The peso was up 1.12 percent at the open to 43.60 per U.S. dollar, before falling back to nearly unchanged from Monday’s close at 44.40 to the greenback. On Monday, immediately after the central bank unveiled its new policies, the peso surged to close the day 3.56 percent stronger.

The measures gave the central bank more freedom to support the local currency by loosening a no-intervention peso trading band that had been in place since October, an effort to calm local markets. (Reporting by Jorge Otaola and Nicolas Misculin in Buenos Aires Writing by Dave Sherwood and Hugh Bronstein Editing by Marguerita Choy and Matthew Lewis)

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