Peso slides as Argentina’s central bank chief resigns
The governor of Argentina's central bank has resigned amid the country's ongoing discussions with the International Monetary Fund (IMF), sending the peso tumbling.
Luis Caputo stepped down for personal reasons, the bank said in a statement, after less than three months in the role and has been replaced by former economic policy secretary Guido Sandleris.
Read more: Argentina hikes interest rates after peso plunge
The country's currency fell 4.65 per cent and opened at 39.15 against the dollar following the announcement.
Argentina is in the process of negotiating a $50bn (£38.02bn) credit line with the IMF.
IMF chief spokesman Gerry Rice said: “We take note of today’s announcements regarding the change at the Central Bank of Argentina.
"We look forward to continuing our close and constructive relationship with the BCRA under the leadership of Guido Sandleris.
"Our staff and the Argentine authorities continue to work intensively with the objective of concluding the staff level talks in very short order.”
Strikes took place across the country today as workers protested President Mauricio Macri's handling of the economy.
In August Macri hiked interest rates to 60 per cent and earlier this month announced austerity measures in a bid to stabilise the struggling peso.