The head of the Argentine central bank, Luis Caputo, resigns after three months

The head of Argentina's central bank has resigned as a result of conflicting reports on policies to restore confidence in the country's troubled economy.

Luis Caputo had only held the post since June, and the surprise resignation dropped the peso against the US dollar.

A statement said that he resigned for personal reasons and will be replaced by Deputy Minister of Economy, Guido Sandleris.

Argentina finalizes a $ 50 billion rescue package from the International Monetary Fund.

As Argentina is in recession, interest rates at 60% and the value of the peso being halved this year, the country needs the IMF loan to boost confidence in the economy .

President Mauricio Macri is in New York this week for a UN meeting, but was scheduled to meet Wall Street financiers and potential investors.

• Argentinian GDP falling the most since 2014
• Why confidence in the Argentine economy decreases

When Mr. Caputo, a former finance minister, was appointed three months ago, we questioned the government's commitment to the independence of the central bank.

A statement from the bank said: "This resignation is due to personal reasons, with the belief that a new agreement with the International Monetary Fund will restore confidence in the fiscal, financial, monetary and exchange rate situation. "

However, the news caused a further 4% decline in the peso, while the country's main stock market dropped more than 5% in the open.

The Argentine financial newspaper Ambito Financiero said that there were perhaps discrepancies between Mr Caputo and Finance Minister Nicolas Dujovne. It is believed that Caputo did not play a central role in the IMF negotiations.

Last week, the government announced that Argentina's economy was down 4.2% in the second quarter, its biggest quarterly contraction since 2014.

The decline is accompanied by a sharp decline in exports, after a drought hit the country's agricultural sector.

Analysis: Daniel Gallas, Business Correspondent BBC South America

These are crucial days for the future of Argentina.

The country's currency suffers from a major crisis of confidence that could be avoided if the government secures IMF support and adopts some of its economic reforms.

But questions were also raised about the lack of leadership.

Macri was criticized for announcing the IMF's deal on television last month before it was actually negotiated in Washington.

There are reports of backstage conflicts within his economic team, which have grown in popularity with the resignation of Mr. Caputo.

Although the transaction is not finalized, the markets operate more on rumors than news. Some say that Argentina could obtain additional funds from the IMF.

Meanwhile, the opposition rallies Tuesday support in the streets with a 24-hour strike that could be a taste of what awaits Argentina.