August 30, 2018 / 1:39 PM / 25 days ago

Argentina CDS jump to 696 bps, up 43 bps from Wednesday's close

LONDON, Aug 30 (Reuters) - The cost of insuring exposure to Argentina’s debt jumped on Thursday after the Argentine peso slumped 7 percent overnight in its worst one-day fall since 2015.

Five-year credit default swaps leapt 43 basis points (bps) from Wednesday’s close to 696 bps, according to IHS Markit data.

In an attempt to calm turbulent markets, Argentina has asked the International Monetary Fund (IMF) to release some funds from its $50 billion financing facility.

Argentina is also looking for ways to speed up its fiscal tightening efforts.

Reporting by Claire Milhench Editing by Alison Williams

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