July 1, 2019 / 1:11 PM / 2 months ago

Argentine central bank sets new 'Leliq' interest rate floor at 58% for July

BUENOS AIRES, July 1 (Reuters) - Argentina’s central bank said on Monday it would set a new interest rate floor on its benchmark ‘Leliq’ notes at 58% for the month of July, lower than previously but still one of the highest reference interest rates in the world.

The South American nation has had to hike interest rates to stem a slide in the peso currency since last year, though the rate - set by daily auctions of short-term Leliq notes - has been coming down over the past few months.

Leliq notes were auctioned at a average rate of 62.688% on Friday. (Reporting by Gabriel Burin and Jorge Otaola; Writing by Adam Jourdan)

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