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Argentine Peso Plummets 26.5 Percent After Controls Lifted

Argentina's peso plunged more than 26.5 percent on Thursday, after the country's new government floated the currency as part of a slew of free-market reforms aimed at revitalizing the stagnant economy. It was the sharpest one-day devaluation in decades. The big winners were farmers in the sprawling Pampas grains belt who will start getting paid in stronger U.S. export dollars, while average consumers risk seeing their purchasing power fall. The peso opened at 14.00 per U.S....

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