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Argentinian peso in freefall as economic crisis deepens
Currency falls at fastest rate since 2002 collapse as central bank runs out of reserves to enter market. The peso is suffering its fastest fall since Argentina's 2002 economic collapse as dwindling reserves keep the central bank from trying to prop up the currency by intervening in the foreign exchange market. The 16 percent loss in the peso's official value against the dollar over Wednesday and Thursday could worsen the country's inflation, which is among the worst in Latin America, analysts said. The peso fell from 6.88 per dollar on Tuesday to 7.14 on Wednesday. By Thursday's close, it was at 8 to the dollar. On ... (full story)