In December 2015, the new government in Argentina lifted capital controls, leading to a sudden drop in the value of the Argentine peso. This depreciation of the peso had the potential to significantly affect companies that exported goods to Argentina. One such company was Bajaj Auto Limited (Bajaj Auto), an Indian exporter of motorcycles to Argentina. On December 18, 2015, Bajaj Auto's shares dropped 2.43 per cent and lost over US$212 million in market capitalization. The market was reacting to concerns that exports from the world's fourth-largest manufacturer of two-wheelers, Bajaj Auto, might be hurt in Argentina, where it was the market leader with over 30 per cent of the market share. Following the 30 per cent decline of the peso on December 16, 2015, there was uncertainty about the future of the currency. What caused Argentina to lift currency controls and float the peso? Why had the Argentine peso depreciated so sharply, and what was its future course? Moreover, how would this affect Bajaj Auto and how could it handle such a crisis?