BUENOS AIRES (Reuters) -The free-fall of Argentina's troubled peso showed no signs of slowing down on Tuesday, with the local currency surpassing the psychological barrier of 1,000 pesos per U.S. dollar less than two weeks before a crucial election. The peso weakened to a historic low of 1,050 pesos per dollar in the informal parallel market on Tuesday, traders said, with a jarring 200% gap between it and the value of the tightly controlled official exchange rate, currently set at 350 pesos per greenback. Argentine voters will head to polls on Oct. 22 to choose among three main contenders to succeed outgoing leftist President Alberto Fernandez, with radical libertarian Javier Milei seen as the front-runner due to his shock first-place showing in the August primary.
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