Prat-Gay takes central bank reins in Argentina

Prat-Gay, the central bank’s fifth president in the past 13 months, replaces former incumbent Aldo Piganelli, who resigned following a row with the government over monetary policy.

Analysts said the FX market is likely to view Prat-Gay’s appointment favourably due to his currency expertise. Argentina is currently gripped by a crippling economic crisis, and maintaining a stable peso is seen as key to achieving stability.

Limited power

However, Prat-Gay is also likely to find his power is limite