Argentina’s peso currency held steady on Wednesday with newly imposed capital controls helping stabilize haywire markets, even as anti-government protesters gathered in Buenos Aires amid rising inflation forecasts and a deepening recession.

Axar.az reports citing foreign media that the peso currency ARS=RASL was flat in early trading at 56.1 per U.S. dollar, after rising sharply on Tuesday as Wall Street cheered President Mauricio Macri's capital controls aimed at protecting the beleaguered markets.

Argentine bonds and the peso have plumbed record lows since a shock primary election last month dashed Macri’s hopes of reelection after he was soundly beaten by left-leaning Peronist rival Alberto Fernandez.